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Stephen Gandel

Someone's Getting a Raise From the Tax Bill

Compensation practice often eludes lawmakers' best intentions.
Photographer: Kazuhiro Nogi/AFP/Getty Images

One of the biggest of the many debates about the tax bill is whether it will increase workers' wages. President Donald Trump's Council of Economic Advisers says yes, by at least $4,000 over time. Larry Summers, a former Obama economic adviser and past Harvard president, says he would most likely flunk any student who came to that conclusion.

But as the bill gets closer to becoming law, it's clear that the tax changes will almost certainly boost the salaries of at least one group of workers that many already view as overpaid: CEOs and other top executives. And the pay jump for the C-suite may not just be thousands of dollars, but millions.