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HR 8377 116th Congress House Taxation Business records Corporate finance and management Income tax rates Public contracts and procurement Wages and earnings

CEO Accountability and Responsibility Act

Introduced: September 24, 2020 Introduced by: DeSaulnier, Mark Democratic · California See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 24, 2020
Referred to the Committee on Ways and Means, and in addition to the Committee on Oversight and Reform, 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.
Sep 24, 2020
Introduced in House
 Plain-English summary Congressional Research Service

CEO Accountability and Responsibility Act

This bill amends the Internal Revenue Code to increase the corporate income tax rate for publicly traded corporations that pay their chief executive officers or highest paid employees more than 100 times the median compensation of all their U.S. employees or that increase the number of contracted or foreign employees.

The bill also requires an executive agency, in the evaluation of bids or proposals for federal contracts, to give preference to a bidder that has a compensation ratio of highly paid to all employees of less than 50 to 1 in the previous calendar year.

What's happening now September 24, 2020

Referred to the Committee on Ways and Means, and in addition to the Committee on Oversight and Reform, 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.

 Committees of jurisdiction 2