HOUSE 1979117th CongressReferred to the House Committee on Ways and Means.

Tax Excessive CEO Pay Act of 2021

Last Action: 3/17/2021

Actions

2021-03-17Referred to the House Committee on Ways and Means.
2021-03-17Introduced in House
2021-03-17Introduced in House

CRS Summary

As of 2021-03-17 (00)

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.

Cosponsors (20)

Rashida Tlaib (D-MI)
JANICE SCHAKOWSKY (D-IL)
ELEANOR NORTON (D-DC)
Bonnie Watson Coleman (D-NJ)
Mondaire Jones (D-NY)
Ro Khanna (D-CA)
Jesus Garcia (D-IL)
Ayanna Pressley (D-MA)
Mark Takano (D-CA)
Alexandria Ocasio-Cortez (D-NY)
Adriano Espaillat (D-NY)
JAMES MCGOVERN (D-MA)
ALCEE HASTINGS (D-FL)
Stephen Lynch (D-MA)
Ilhan Omar (D-MN)
Pramila Jayapal (D-WA)
Cori Bush (D-MO)
Jared Huffman (D-CA)
Raúl Grijalva (D-AZ)
Steve Cohen (D-TN)

Subjects

Administrative law and regulatory procedures
Corporate finance and management
Department of the Treasury
Income tax rates
Wages and earnings

Read on Congress.gov

Sourced from Congress.gov (public domain).

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