S 794
117th 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 2021
Introduced: March 17, 2021
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
Mar 17, 2021
Read twice and referred to the Committee on Finance.
Mar 17, 2021
Introduced in Senate
Plain-English summary
Tax Excessive CEO Pay Act of 2021
This bill increases the current 21% income tax rate of corporations whose ratio of compensation of their principal executive officers or other highest compensated employees to median worker compensation is more than 50 to 1, in which case the increase is 0.5%. The pay ratio disparity extends from 100 to 1 to 500 to 1, in which case the increase is 5%. The bill exempts from such increase certain corporations based upon their average annual gross receipts.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1