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HR 4412 111th Congress House Taxation Corporate finance and management Financial crises and stabilization Government lending and loan guarantees Government trust funds Sales and excise taxes Small business Wages and earnings

Wall Street Bonus Tax Act

Introduced: December 19, 2009 Introduced by: Welch, Peter Democratic · Vermont See on congress.gov
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 Everywhere this bill has been 5 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 19, 2009
Referred to the Subcommittee on Finance and Tax.
Dec 19, 2009
Referred to House Small Business
Dec 19, 2009
Referred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Dec 19, 2009
Referred to House Ways and Means
Dec 19, 2009
Introduced in House
 Plain-English summary Congressional Research Service

Wall Street Bonus Tax Act - Amends the Internal Revenue Code to: (1) impose an excise tax on 50% of any bonus exceeding $50,000 paid during 2010 by a recipient of financial assistance under the Troubled Asset Relief Program (TARP) to a current or former employee; and (2) establish in the Treasury the Small Business Growth Fund to hold revenues from such tax.

Requires the Administrator of the Small Business Administration (SBA) to establish and carry out a program to make loans directly to small business concerns. Makes amounts from such Fund available to carry out such program.

What's happening now December 19, 2009

Referred to the Subcommittee on Finance and Tax.

 Committees of jurisdiction 3