Cities

Business executive reviewing financial documents related to CEO pay surtax policy discussions

Portland becomes first U.S. city to tax companies over CEO pay gap

Portland’s CEO pay surtax, passed by the City Council in December 2016, became the first U.S. tax tied directly to corporate pay ratios. Companies paying chief executives more than 100 times their median worker owed a 10 percent surcharge on their business license tax, with steeper rates above 250:1. A small city turning federal disclosure data into local consequence.

Solar farm

India completes its first solar park

Inaugurated in 2012 by the then Chief Minister of Gujarat Narendra Modi, it was home to about 250 MW capacity initially. In April 2012, a total of 214 megawatts had been commissioned. It also became the world’s third largest photovoltaic power station. 345 MW had been installed by March 2016. So far, the park has witnessed investments of Rs 5,365 crore and generated 3,441 million units till date.