The $2 trillion coronavirus rescue bundle handed late Wednesday by the Senate would minimize the compensation for the highest-paid American executives if their firms settle for monetary help from the federal authorities.

The laws would forestall firm officers who made greater than $425,000 final 12 months from getting a elevate till at the least a 12 months after the mortgage is repaid. Those that had been paid greater than $three million will see their whole pay diminished, although they'll nonetheless be capable to pocket tens of millions.

The typical compensation for an S&P 500 firm CEO in 2018 was $14.5 million, based on the AFL-CIO's Government Paywatch mission. 

"This can require reductions in compensation for c-level executives who take loans," Greg Grogan, a associate at Simpson Thacher & Bartlett who focuses on government compensation, mentioned in an e mail. 

The invoice, the most important stimulus handed by Congress in fashionable instances, offers a whole bunch of billions of {dollars} in loans and grants to industries hit laborious by...