According to the latest report by the Institute for Policy Studies (IPS) on Wall Street compensation, executives of the top 20 banks that accepted federal bailout money received an average of $32 million each from 2006-2008. The same banks have been responsible for laying off 160,000 employees since January 2008. In IPS’s report, the authors note the different legislative reforms in Congress designed to address excessive compensation packages. One plan, by Representative Jan Schakowsky (D-IL), would allow the federal government to give tax breaks and contracting preferences to companies that pay their executives no more than 100 times the income of their lowest-paid workers.