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Report: Close Corporate Tax Loopholes
Report of the Quasi-Public Authority Compensation Review Commission
The Commission to Review Compensation Packages of Senior Officials at Quasi-public Agencies concludes that these agencies are a largely unregulated government sector, frequently deficient in adequate process, mostly deficient in adequate transparency, and universally deficient in oversight. The Commission also found that generally speaking, compensation packages for senior quasi personnel pass a reasonableness standard in the context of each of their industries, but further concludes that there are significant “outlier” features of some compensation packages which the Commission considers inappropriate. The Commission urges the Governor to propose and establish standards for process, transparency, and oversight in the belief that if these standards are left unattended, the process may lead to additional outlier features (such as those identified in this report) and to the further loss of public confidence in the Commonwealth’s quasipublic agencies (often referred to as “quasis”). The Commission further concludes that the center of responsibility for curing the first two of these inadequacies lies with the boards of directors of the quasi-public agencies. These agencies have been structured precisely for the purpose of giving them unique independence and authority under their boards. Their boards have the supreme responsibility and accountability for compliance with the highest standards of process and transparency. The Governor and Legislature will need to take the leadership role in correcting the third inadequacy, in oversight.
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