Overview
Title
To amend title 49, United States Code, to require Amtrak to include information on base pay and bonus compensation of certain Amtrak executives, and for other purposes.
ELI5 AI
Amtrak is a train company, and this bill wants them to tell everyone how much money their bosses make and how they earn extra money called bonuses. This way, people can see and understand how Amtrak decides to pay their top bosses.
Summary AI
H.R. 192 aims to change a part of the United States Code to require Amtrak to publicly share information about the salaries and bonus pay of its top executives. This bill would mean that Amtrak has to post this information on their website, including details on how bonuses are determined for roles like the CEO and other top officers. This transparency measure is designed to give the public and Congress insight into how executive compensation is handled at Amtrak.
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AnalysisAI
General Summary of the Bill
The proposed legislation, titled the "Amtrak Executive Bonus Disclosure Act," seeks to amend title 49 of the United States Code. It focuses on ensuring transparency by requiring Amtrak, the United States' National Railroad Passenger Corporation, to disclose detailed information regarding the annual base pay and bonuses awarded to its executive leadership team. This includes public access to the criteria and metrics used for determining bonuses, making the information available on Amtrak's official website.
Summary of Significant Issues
While the bill aims to increase transparency within Amtrak's executive compensation practices, several notable issues deserve attention:
Ambiguity in Criteria: The bill lacks specificity regarding the criteria and metrics for determining bonus payouts, which could lead to subjective interpretation and potential misuse of funds.
Transparency Timeline: No clear timeline is provided for when Amtrak must make this compensation information publicly available, potentially delaying the achievement of transparency goals.
Privacy Concerns: The public disclosure of individual compensation details raises privacy issues, as there are no explicit guidelines to protect this sensitive data.
Definition of 'Bonus Compensation': The bill does not clearly define what constitutes 'bonus compensation', which might lead to inconsistent practices or excessively generous rewards.
Impact on the Public
The bill's overarching goal is to foster accountability and transparency within Amtrak. By making executive compensation details accessible to the public, it could enhance public trust in how Amtrak manages taxpayer-funded resources. However, the lack of clarity on criteria, timeline, and privacy protections could undermine these transparency efforts if not adequately addressed.
Impact on Stakeholders
Positive Impacts
Public and Taxpayers: Increased transparency in executive compensation may reassure taxpayers that funds are being responsibly managed and not disproportionately allocated to executive bonuses.
Amtrak Employees: The availability of compensation data could promote fairer internal compensation practices and motivate executives to meet clearly defined performance metrics.
Negative Impacts
Amtrak Executives: Public disclosure of personal compensation details might raise privacy and security concerns for these individuals. It could also lead to public scrutiny over compensation levels without comprehensive context about the roles and responsibilities of executive positions.
Regulatory Bodies: Without clear guidelines for implementing the disclosure requirements, regulatory bodies might face challenges in monitoring and enforcing compliance, possibly leading to inefficient practices that do not effectively deter misuse.
In conclusion, while the bill's intent to bring transparency to Amtrak's executive compensation is commendable, addressing the highlighted issues is critical. Careful consideration of transparency deadlines, privacy measures, and specific metrics would be necessary to balance public interest with the privacy and operational needs of Amtrak's executives and management.
Issues
Section 2: The bill's lack of specificity on the 'criteria and metrics used to determine any such bonus compensation' may lead to ambiguity and potential misuse of funds, raising financial and ethical concerns.
Section 2: There is no timeline specified for making the compensation information public on the Amtrak website, which could result in delays in transparency and accountability.
Section 2: Public disclosure of individual compensation may lead to privacy concerns as there are no clear guidelines on how this data will be protected.
Section 2: The bill does not establish clear guidelines or limits on what constitutes 'bonus compensation,' which raises the risk of inconsistent or excessively generous bonus payouts and may affect public trust.
Section 1: As this section provides only the short title without further context, its implications on additional sections or the potential for broader impact are difficult to ascertain.
Sections
Sections are presented as they are annotated in the original legislative text. Any missing headers, numbers, or non-consecutive order is due to the original text.
1. Short title Read Opens in new tab
Summary AI
The section provides the short title of the Act, which is called the “Amtrak Executive Bonus Disclosure Act”.
2. Amtrak reports and audits Read Opens in new tab
Summary AI
Amendments to Section 24315(a) of title 49, United States Code, require Amtrak to make its reports available to the public on its website and mandate providing details about the annual base pay and bonus compensation of its executive leadership team, including the criteria used for bonus decisions.