Bill > HR5066

Introduced Session

To amend the Internal Revenue Code of 1986 to impose a corporate tax rate increase on companies whose ratio of compensation of the CEO or other highest paid employee to median worker compensation is more than 50 to 1, and for other purposes. This bill 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.

AI Summary

Committee Categories

Barbara Lee (D)*,  Rosa DeLauro (D),  Adriano Espaillat (D),  Chuy García (D),  Raúl Grijalva (D),  Debra Haaland (D),  Jared Huffman (D),  Pramila Jayapal (D),  Ro Khanna (D),  Jim McGovern (D),  Eleanor Holmes Norton (D),  Alexandria Ocasio-Cortez (D),  Ilhan Omar (D),  Ayanna Pressley (D),  Jan Schakowsky (D),  Mark Takano (D),  Bennie Thompson (D),  Rashida Tlaib (D),  Bonnie Watson Coleman (D), 

Referred to the House Committee on Ways and Means. (on 11/13/2019)

Official Document