DEPOSIT Act
- Last Action
- 3/17/2023
Actions
- 2023-03-17Referred to the House Committee on Ways and Means.
- 2023-03-17Introduced in House
- 2023-03-17Introduced in House
CRS Summary
As of 2023-03-17 (00)
Deliver Executive Profits On Seized Institutions to Taxpayers Act or the DEPOSIT Act
This bill imposes an increased tax rate on bonuses paid after March 1, 2023, and profits from sales of bank stock received by highly-paid bank executives employed by failing banks that were closed and for which the Federal Deposit Insurance Corporation has been appointed conservator or receiver. The bill expresses the sense of the Congress that revenues from such increased taxes be returned to the Deposit Insurance Fund of the Federal Deposit Insurance Corporation.
Cosponsors (20)
- Mike Levin (D-CA)
- Jimmy Gomez (D-CA)
- Mark Takano (D-CA)
- BETTY MCCOLLUM (D-MN)
- Bonnie Watson Coleman (D-NJ)
- John Garamendi (D-CA)
- Kevin Mullin (D-CA)
- Raúl Grijalva (D-AZ)
- JAMES MCGOVERN (D-MA)
- Chellie Pingree (D-ME)
- Daniel Goldman (D-NY)
- Eric Swalwell (D-CA)
- Dwight Evans (D-PA)
- Brendan Boyle (D-PA)
- Mark Pocan (D-WI)
- ANNA ESHOO (D-CA)
- André Carson (D-IN)
- Ro Khanna (D-CA)
- Henry Johnson (D-GA)
- Donald Payne (D-NJ)
Sourced from Congress.gov (public domain).
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