S 3176
118th Congress
Senate
Taxation
Curtailing Executive Overcompensation (CEO) Act
Introduced: November 1, 2023
Introduced by:
Whitehouse, Sheldon
Democratic
· Rhode Island
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 1, 2023
Read twice and referred to the Committee on Finance.
Nov 1, 2023
Introduced in Senate
Plain-English summary
Curtailing Executive Overcompensation (CEO) Act
This bill imposes an excise tax on employers (i.e., business entities) that have at least a 50 to 1 disparity between the wages (including bonuses, stock awards and options) of chief executive officers and the wages paid to their workers. The bill applies to employers that have not less than $100 million in annual gross receipts and $10 million in payroll over a 3 year period.
The bill limits such tax to 1% of an employer's gross receipts.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1