Bill Seeks to Limit Compensation, Not Incentives

The Pay for Performance Act of 2009 passed the House of Representatives last Wednesday, giving the Treasury Department the power to define what constitutes “unreasonable and excessive” compensation at companies that have received federal bailout money. In a move that has been cheered by the U.S. Travel Association and other observers, Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, has gone on the record to say that the bill is aimed at controlling compensation