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Sanders, Khanna Introduce ‘Stop Walmart Act’

November 25, 2018

By Steve Wishnia and Neal Tepel

WASHINGTON—Trying to force Walmart to pay its workers at least $15 an hour, Sen. Bernie Sanders (I-Vt.) and Rep. Ro Khanna (D-Calif.) introduced a bill Nov. 15 titled the Stop Walmart Act. It would prevent large companies from buying back stock unless they pay all employees at least $15, let workers earn up to seven days of paid sick leave, and not pay the CEO more than 150 times employees’ median pay. “Walmart made more than $13 billion in profits last year, while the median worker was paid just $19,177,” the two said in a statement. “Instead of using its profits to raise wages to a living wage of $15 an hour, Walmart plans to buy back $20 billion of its own stock over a two-year period to enrich its executives and shareholders.” Walmart CEO Doug McMillon got more than $22 million last year, almost 1,200 times as much as its typical worker. Walmart responded that it has raised its starting wages “by more than 50% in the last three years,” increasing its minimum wage to $11 in February. Sanders and Khanna also plan to introduce a bill to raise the federal minimum wage from $7.25 to $15. Read more

November 25, 2018

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