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S 3620 118th Congress Senate Taxation

Tax Excessive CEO Pay Act of 2024

Introduced: January 18, 2024 Introduced by: Sanders, Bernard Independent · Vermont See on congress.gov
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 18, 2024
Read twice and referred to the Committee on Finance.
Jan 18, 2024
Introduced in Senate
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 Plain-English summary Congressional Research Service

Tax Excessive CEO Pay Act of 2024

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 January 18, 2024

Read twice and referred to the Committee on Finance.

 Related & companion bills 1
  • HR 7041 Identical bill Tax Excessive CEO Pay Act of 2024
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Democratic 4
D
Welch, Peter
Vermont · Jan 22, 2024
 D
Markey, Edward J.
Massachusetts · Jan 18, 2024
 D
Van Hollen, Chris
Maryland · Jan 18, 2024
 D
Warren, Elizabeth
Massachusetts · Jan 18, 2024
Cite this page click to expand
APA
U.S. Congress. (2026). S. 3620: Tax Excessive CEO Pay Act of 2024. 118th Congress. Open America. https://openamerica.io/bill/118-S-3620/
MLA
"S. 3620: Tax Excessive CEO Pay Act of 2024." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-3620/.
Bluebook (legal)
S. 3620, 118th Cong. (2026), https://openamerica.io/bill/118-S-3620/.
Markdown link
[S. 3620: Tax Excessive CEO Pay Act of 2024](https://openamerica.io/bill/118-S-3620/)
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