CEO Accountability and Responsibility Act
- Last Action
- 5/18/2021
Actions
- 2021-05-18Referred to the Committee on Ways and Means, and in addition to the Committee on Oversight and Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2021-05-18Referred to the Committee on Ways and Means, and in addition to the Committee on Oversight and Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2021-05-18Introduced in House
- 2021-05-18Introduced in House
CRS Summary
As of 2021-05-18 (00)
CEO Accountability and Responsibility Act
This bill increases the corporate income tax rate for publicly traded corporations that pay their chief executive officers or highest paid employees more than 100 times the median compensation of all their U.S. employees or that increase the number of contracted or foreign employees.
The bill also requires an executive agency, in the evaluation of bids or proposals for federal contracts, to give preference to a bidder that has a compensation ratio of highly paid to all employees of less than 50 to 1 in the previous calendar year.
Cosponsors (9)
- Jesus Garcia (D-IL)
- Steve Cohen (D-TN)
- BENNIE THOMPSON (D-MS)
- Jared Huffman (D-CA)
- ELEANOR NORTON (D-DC)
- BARBARA LEE (D-CA)
- JANICE SCHAKOWSKY (D-IL)
- Cori Bush (D-MO)
- Mondaire Jones (D-NY)
Subjects
- Business records
- Corporate finance and management
- Income tax rates
- Public contracts and procurement
- Wages and earnings
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.