Obama renews push to limit executive pay for federal contractors

[Geee]

The Hill:

Under current law, the government is set to be on the hook for ever increasing amounts of executive compensation.

This year the level — which is pegged to rising executive pay in the private sector — will rise to $950,000 from $763,000 for each of the top five executives of each contractor.

Obama’s 2014 budget called for limits on all contractors and the $400,000 limit the president will seek matches his own salary.

The first test of the proposal will come as the House Armed Services Committee marks up a National Defense Authorization bill for 2014 and debates compensation limits for defense contractors.

Federal workers’ unions have been pushing for the lower caps, arguing that they would help lower the budget deficit and take pressure off the government to lay off full-time employees.