S 2849
116th Congress
Senate
Taxation
Administrative law and regulatory procedures
Corporate finance and management
Department of the Treasury
Income tax rates
Wages and earnings
Tax Excessive CEO Pay Act of 2019
Introduced: November 13, 2019
Introduced by:
Sanders, Bernard
Independent
· Vermont
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 13, 2019
Read twice and referred to the Committee on Finance.
Nov 13, 2019
Introduced in Senate
Plain-English summary
Tax Excessive CEO Pay Act of 2019
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.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1