US Congress Senate Bill 2994 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 4-0)
Status: Introduced on February 4 2010 - 25% progression, died in chamber
Action: 2010-02-04 - Read twice and referred to the Committee on Finance.
Text: Latest bill text (Introduced) [PDF]

Taxpayer Fairness Act - Amends the Internal Revenue Code to: (1) impose a 50% tax on bonuses, including retention bonuses, exceeding $400,000 paid in 2009 to employees of financial institutions (including the Federal National Mortgage Association [Fannie Mae] and the Federal Home Loan Mortgage Corporation [Freddie Mac]) that received $5 billion or more in emergency economic assistance from the federal government; and (2) limit the business tax deduction for such bonuses to 50% of the amount of such bonuses.

Taxpayer Fairness Act

Sen. Barbara Boxer [D-CA]

Sen. Blanche Lincoln [D-AR]

Sen. Patty Murray [D-WA]

Sen. Jim Webb [D-VA]

Date	Chamber	Action
2010-02-04		Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/111th-congress/senate-bill/2994/all-info
Text	https://www.congress.gov/111/bills/s2994/BILLS-111s2994is.pdf