US SB82 | 2017-2018 | 115th Congress
Status
Spectrum: Partisan Bill (Democrat 8-0)
Status: Introduced on January 10 2017 - 25% progression, died in committee
Action: 2017-01-10 - Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S206-207)
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 10 2017 - 25% progression, died in committee
Action: 2017-01-10 - Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S206-207)
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Stop Subsidizing Multimillion Dollar Corporate Bonuses Act This bill amends the Internal Revenue Code, with respect to the $1 million limitation on the deductibility of employee compensation, to: (1) extend such limitation to any individual who is a current or former officer, director, or employee of a publicly-held corporation; (2) eliminate the exemption from such limitation for compensation payable on a commission basis or upon the attainment of a performance goal; and (3) make such limitation applicable to all publicly-held corporations that are required by the Securities and Exchange Commission to register securities and provide periodic reports to their investors.
Title
Stop Subsidizing Multimillion Dollar Corporate Bonuses Act
Sponsors
Sen. Jack Reed [D-RI] | Sen. Richard Blumenthal [D-CT] | Sen. Chris Van Hollen [D-MD] | Sen. Tammy Baldwin [D-WI] |
Sen. Elizabeth Warren [D-MA] | Sen. Sheldon Whitehouse [D-RI] | Sen. Sherrod Brown [D-OH] | Sen. Jeff Merkley [D-OR] |
History
Date | Chamber | Action |
---|---|---|
2017-01-10 | Senate | Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S206-207) |
Same As/Similar To
HB399 (Same As) 2017-01-10 - 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 deductions
Taxation
Wages and earnings
Corporate finance and management
Department of the Treasury
Income tax deductions
Taxation
Wages and earnings
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/115th-congress/senate-bill/82/all-info |
Text | https://www.congress.gov/115/bills/s82/BILLS-115s82is.pdf |