{"database": "press", "table": "releases", "rows": [["https://riley.house.gov/2025/12/10/riley-introduces-bipartisan-bill-to-ban-bonuses-for-utility-ceos-when-they-hike-rates-on-families/", "Riley Introduces Bipartisan Bill to Ban Bonuses for Utility CEOs When They Hike Rates on Families", "2025-12-10", "2025", "2025-12", "Democrat", "House", "NY", "Josh Riley", "R000622", "riley.house.gov", "riley", "https://riley.house.gov/news/", "scraper", "WASHINGTON, DC \u2014 Congressman Josh Riley (NY-19) and Congressman Jeff Van Drew (NJ-02) today introduced the bipartisan No Bonuses for Utility Executives Act (H.R.6590), which prohibits utility company executives from receiving bonuses whenever they raise rates faster than inflation.\n\n\u201cUpstate New Yorkers are getting crushed by high utility bills,\u201d said Riley. \u201cFolks are cutting back on everything from groceries to school clothes just to keep the lights on. Meanwhile, the utility monopolies are rewarding their CEOs with millions of dollars per year. When the people footing the bill get squeezed and the folks at the top walk off with massive bonuses, something\u2019s seriously broken \u2014 and I\u2019m fighting to fix it. My bipartisan bill stops utility monopolies from rewarding the corporate executives who are ripping us off.\u201d\n\n\u201cPeople are getting hit with higher and higher utility bills, and they are tired of seeing executives get big bonuses while they struggle to pay,\u201d said Congressman Van Drew. \u201cThis bill is about basic fairness. In no world should executives be getting big bonuses if they are raising rates faster than inflation. This bill will make these companies think about the families they serve before they decide to jack up prices. I am proud to be a co-lead on this effort.\u201d\n\nAcross Upstate New York, working families continue to feel the squeeze of rising electric bills. And even as these utilities pleaded for higher rates, they paid their CEOs more than $10 million last year \u2014 Fortis (parent company of Central Hudson) paid $10.6 million, and Avangrid (parent company of NYSEG and RG&E) paid $10.7 million \u2014 all while households struggled to keep up with higher monthly costs.\n\nRiley\u2019s bill would put an end to executive bonuses in years when utilities raise rates faster than inflation.\n\nABOUT THE NO BONUSES FOR UTILITY EXECUTIVES ACT:\n\n1. Stops bonuses when utilities raise rates faster than inflation:\n\nIf a utility hikes rates above the annual inflation rate, its executives are barred from receiving bonuses of any kind.\n\n2. Caps bonuses in years when rates stay stable:\n\nIf rate increases stay at or below inflation, any executive bonus must be capped at 25% of the median compensation earned by non-executive employees.\n\n3. Enforces the rules with real oversight and penalties:\n\nUtilities must report to the Federal Energy Regulatory Commission (FERC) within one week of their fiscal year ending, providing:\n\nthe average percentage increase in customer rates, and\n\nthe median pay of non-executive employees.\n\nFERC has one month to determine whether bonuses are permitted and, if so, the maximum allowable bonus.\n\nIf a utility violates the law, its entire bonus pool is forfeited to the IRS, and the IRS must return those dollars directly to customers as a stimulus payment.\n\n4. Applies to foreign-owned, state-regulated electric utilities:\n\nThe bill covers state-regulated electric utilities that are not wholly owned by U.S. persons, and it takes effect for fiscal years beginning on or after January 1, 2025.\n\nThe No Bonuses for Utility Executives Act builds on Riley\u2019s earlier Keep the Lights Local Act, part of his broader push to lower utility costs, rein in utility monopolies, and deliver a square deal for Upstate families.\n\nFull bill text available HERE.", 1, "2026-04-04T05:28:40Z", "2026-04-04T05:30:10Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://riley.house.gov/2025/12/10/riley-introduces-bipartisan-bill-to-ban-bonuses-for-utility-ceos-when-they-hike-rates-on-families/"], "units": {}, "query_ms": 1.6110450960695744, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}