US SB2849 | 2019-2020 | 116th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on November 13 2019 - 25% progression, died in committee
Action: 2019-11-13 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on November 13 2019 - 25% progression, died in committee
Action: 2019-11-13 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Requires an increase in the corporate income tax rate based upon the ratio of compensation paid to the corporation's highest paid employee to median worker compensation. The pay ratios range from greater than 50 to 1 (0.5% increase) to greater than 500 to 1 (5% increase). The bill exempts corporations whose average annual gross receipts during a three-year period are less than $100 million from the rate increase.
Title
Tax Excessive CEO Pay Act of 2019
Sponsors
Sen. Bernard Sanders [I-VT] | Sen. Elizabeth Warren [D-MA] |
History
Date | Chamber | Action |
---|---|---|
2019-11-13 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB5066 (Same As) 2019-11-13 - Referred to the House Committee on Ways and Means.
Subjects
Administrative law and regulatory procedures
Corporate finance and management
Department of the Treasury
Income tax rates
Taxation
Wages and earnings
Corporate finance and management
Department of the Treasury
Income tax rates
Taxation
Wages and earnings
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/senate-bill/2849/all-info |
Text | https://www.congress.gov/116/bills/s2849/BILLS-116s2849is.pdf |