summary
Introduced
03/17/2021
03/17/2021
In Committee
03/17/2021
03/17/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL 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 em- ployee to median worker compensation is more than 50 to 1, and for other purposes.
AI Summary
This bill, the Tax Excessive CEO Pay Act of 2021, would amend the Internal Revenue Code 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. The tax increase would range from 0.5 percentage points for a ratio between 50 to 1 and 100 to 1, up to 5 percentage points for a ratio greater than 500 to 1. The bill also includes provisions to prevent avoidance of the new tax through changes to workforce composition, such as increased use of contractors.
Committee Categories
Budget and Finance
Sponsors (23)
Barbara Lee (D)*,
Jamaal Bowman (D),
Cori Bush (D),
Steve Cohen (D),
Adriano Espaillat (D),
Chuy García (D),
Raúl Grijalva (D),
Alcee Hastings (D),
Jared Huffman (D),
Pramila Jayapal (D),
Mondaire Jones (D),
Ro Khanna (D),
Stephen Lynch (D),
Jim McGovern (D),
Marie Newman (D),
Eleanor Holmes Norton (D),
Alexandria Ocasio-Cortez (D),
Ilhan Omar (D),
Ayanna Pressley (D),
Jan Schakowsky (D),
Mark Takano (D),
Rashida Tlaib (D),
Bonnie Watson Coleman (D),
Last Action
Referred to the House Committee on Ways and Means. (on 03/17/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/house-bill/1979/all-info | 03/19/2021 |
| BillText | https://www.congress.gov/117/bills/hr1979/BILLS-117hr1979ih.pdf | 05/18/2021 |
| Bill | https://www.congress.gov/117/bills/hr1979/BILLS-117hr1979ih.pdf.pdf | 05/18/2021 |
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