Proposed legislation could hurt Apple executives but help other employees

Legislation proposed by Senate Democratic leader Charles Schumer of New York and Sen. Bernie Sanders of Vermont could negatively impact the valuation of tech stocks including Apple. The pair laid out their plan in The New York Times last Sunday (via CNBC), under which publicly traded companies like Apple would be prohibited from buying back their own shares unless they pay workers a minimum of $15 per hour, give them paid time off, and offer employees health benefits.

Stock buybacks are done by corporations to reduce the number of shares outstanding. Doing this increases ...

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