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S 1476 113th Congress Senate

Stop Subsidizing Multimillion Dollar Corporate Bonuses Act

Official title: A bill to amend the Internal Revenue Code of 1986 to expand the denial of deduction for certain excessive employee remuneration, and for other purposes.

Introduced: August 1, 2013 Introduced by: Reed, Jack Democratic · Rhode Island See on congress.gov
Taxation Administrative law and regulatory proceduresCorporate finance and managementDepartment of the TreasuryIncome tax deductionsWages and earnings
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This bill died when the 113th Congress ended
It never became law before the 113th Congress (2013–2014) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 1, 2013
Read twice and referred to the Committee on Finance.
Aug 1, 2013
Sponsor introductory remarks on measure. (CR S6235-6236)
Aug 1, 2013
Introduced in Senate
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 Latest action August 1, 2013

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

Stop Subsidizing Multimillion Dollar Corporate Bonuses Act - 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 (SEC) to register securities and provide periodic reports to their investors.

 Related & companion bills 2
  • S 2162 Related bill 21st Century Worker Tax Cut Act
  • HR 3970 Related bill Stop Subsidizing Multimillion Dollar Corporate Bonuses Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 7
All 7 Democratic 6 Independent 1
D
Baldwin, Tammy
Wisconsin · Jun 19, 2014
 D
Murray, Patty
Washington · Mar 26, 2014
 D
Markey, Edward J.
Massachusetts · Dec 12, 2013
 D
Warren, Elizabeth
Massachusetts · Dec 12, 2013
 D
Whitehouse, Sheldon
Rhode Island · Nov 19, 2013
 I
Sanders, Bernard
Vermont · Sep 11, 2013
 D
Blumenthal, Richard
Connecticut · Aug 1, 2013
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1476: Stop Subsidizing Multimillion Dollar Corporate Bonuses Act. 113th Congress. Open America. https://openamerica.io/bill/113-S-1476/
MLA
"S. 1476: Stop Subsidizing Multimillion Dollar Corporate Bonuses Act." 113th Congress, 2026, Open America, https://openamerica.io/bill/113-S-1476/.
Bluebook (legal)
S. 1476, 113th Cong. (2026), https://openamerica.io/bill/113-S-1476/.
Markdown link
[S. 1476: Stop Subsidizing Multimillion Dollar Corporate Bonuses Act](https://openamerica.io/bill/113-S-1476/)
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