Metra CEO severance package greater than salary of POTUS and top 10 largest transit agencies in the nation; Legislation will prevent federally supported transit agencies from paying staff more than President Obama
CHICAGO–(ENEWSPF)–August 16, 2013. U.S. Senator Mark Kirk (R-Ill.), a member of the U.S. Senate Banking Committee that has oversight of public transit agencies, today announced he will introduce legislation to protect taxpayers from excessive “golden parachutes” at transit agencies following the departure of Metra CEO Alex Clifford. Clifford received a severance package worth nearly $750,000 following allegations of political influence at the agency. Clifford, whose salary started at $252,000, received a $442,237 buyout for the rest of his contract plus six months and the option for up to $307,390 for an additional 12 months if he is unable to find new employment.
“Illinois has an unfortunate history of enriching public officials with taxpayer funds,” Senator Kirk said. “It’s hard to justify why any single transit agency employee should make more than the President of the United States. While federal funds were not used in Alex Clifford’s golden parachute, the federal taxpayer is expected to provide Metra more than $135 million in 2013 alone for capital investments. If our local government bodies can’t be trusted to be good stewards of the public, then the Congress should step in to stop future abuses.”
The Public Transportation Accountability Act prevents transit agencies that receive federal transit capital funds from paying their chief executive or any employee more than the current salary of the President of the United States. The President’s current salary is $400,000.
The legislation would not impact the top 10 largest transit agencies in the nation, all of which pay their top executives under $400,000.
The legislation will be introduced when Congress reconvenes in September. The draft bill can be found here.
Source: kirk.senate.gov
