Deals
Sanders Pledges 20% Worker Stake in Sweeping Governance Overhaul
- Democrat proposes broader powers to halt or unwind mergers
- Employees would elect 45% of directors, corporate rate to rise
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Senator Bernie Sanders proposed sweeping changes to U.S. corporate governance that would give workers 20% ownership in public companies and the right to elect 45% of their directors, while expanding the government’s power to stop mergers.
The 2020 Democratic presidential contender’s “corporate accountability plan” proposes to restore the corporate tax rate to 35% from 21% and repeal the 2017 tax cuts passed by Congress with only Republican votes. He also proposes to review mergers approved by the Trump administration and unwind any deemed “improper.”