2015 Event After a credit rating downgrade to 'junk' by Standard & Poor's, Brazil implements a $17 billion austerity package that will eliminate ten government ministries, cut public spending, and halt both hiring and salary increases in the public sector 1994 Event Baseball owners impose salary cap, fiercely opposed by players 1994 Event Court upholds NBA salary cap and draft rights 1992 Event 27th Amendment ratified, prohibits Congress from raising its salary 1991 Event NL Cy Young winner Doug Drabek wins record $3 mil salary arbitration 1991 Event Wally Joyner wins record $2.1 million salary arbitration 1987 Event Don Mattingly wins highest salary arbitration ($1,975,000 per year) 1987 Event Tigers' Jack Morris awarded $1.85 million salary by arbitrator 1986 Event Jack Morris agrees to salary arbitration with former team Tigers and accuses owners of collusion against free agency 1986 Event Los Angeles Dodger Orel Hershiser is 1st to win a $1M salary by arbitration 1985 Event Tim Raines is awarded a $12 million salary for 1985 by arbitrator 1983 Event Fernando Valenzuela wins his salary arbitration of $1 million 1970 Event Players and management end labor dispute up minimum salary to $12,000 1969 Event U.S. Congress doubles president salary 1968 Event Baseball announces a minimum annual salary of $10,000 1952 Event U.S. Standard Board clears Stan Musial to get an $85,000 salary 1950 Event Indians pitcher Bob Feller, after 15-14 season, takes $20,000 salary cut to $45,000, pay cut is Feller's own suggestion 1946 Event Baseball grants $5,000 minimum salary 1932 Event President Hoover cuts own salary 15% 1923 Event Salary and price freeze in Germany 1923 Event 2 "Black Sox" sue White Sox (unsuccessfully) for back salary 1873 Event U.S. Congress and government raise own salary, retroactively 1853 Event Cincinnati became 1st U.S. city to pay fire fighters a regular salary
