Political Quotes

“I strongly oppose Representative Huizenga's amendment, which would effectively gut H.R. 3624 by exempting the vast majority of public companies from the outsourcing disclosure. The amendment does this indirectly by exempting companies that have to comply with SEC rules requiring disclosure of the pay ratio between the CEO's compensation and that of its median employee or rules requiring disclosures relating to conflict minerals. However, all public companies must comply with those rules, with some narrow exemptions. The CEO pay ratio and conflict minerals disclosures have nothing to do with the new requirement to disclose how many jobs are being outsourced. Taken together with the limited exemption for newly public companies already in H.R. 3624, the amendment would limit the bill's outsourcing disclosures to small reporting companies, foreign private issuers, and certain registered investment companies. What my Republican colleagues do not seem to understand is that investors do care about all of these types of disclosures. They know that when a CEO makes significant multiples of the median employee, the performance of the company is hurt. Investors also know that, if a company sources its minerals to conflict zones, it faces a much higher risk than a company with a stable source of resources. Likewise, investors also want to know whether a company is creating jobs in the United States or overseas.…”