Stop Subsidizing Multimillion Dollar Corporate Bonuses Act
- Last Action
- 1/10/2017
Actions
- 2017-01-10Referred to the House Committee on Ways and Means.
- 2017-01-10Introduced in House
- 2017-01-10Introduced in House
CRS Summary
As of 2017-01-10 (00)
Stop Subsidizing Multimillion Dollar Corporate Bonuses Act
This bill amends the Internal Revenue Code, with respect to the $1 million limitation on the deductibility of employee compensation, to: (1) extend such limitation to any individual who is a current or former officer, director, or employee of a publicly-held corporation; (2) eliminate the exemption from such limitation for compensation payable on a commission basis or upon the attainment of a performance goal; and (3) make such limitation applicable to all publicly-held corporations that are required by the Securities and Exchange Commission to register securities and provide periodic reports to their investors.
Cosponsors (20)
- Donald Beyer (D-VA)
- ROBERT BRADY (D-PA)
- Julia Brownley (D-CA)
- David Cicilline (D-RI)
- JOHN CONYERS (D-MI)
- ELIJAH CUMMINGS (D-MD)
- PETER DEFAZIO (D-OR)
- ROSA DELAURO (D-CT)
- Keith Ellison (D-MN)
- Ruben Gallego (D-AZ)
- John Garamendi (D-CA)
- Raúl Grijalva (D-AZ)
- ALCEE HASTINGS (D-FL)
- Brian Higgins (D-NY)
- JAMES LANGEVIN (D-RI)
- BARBARA LEE (D-CA)
- Ted Lieu (D-CA)
- Daniel Lipinski (D-IL)
- David Loebsack (D-IA)
- Alan Lowenthal (D-CA)
Subjects
- Administrative law and regulatory procedures
- Corporate finance and management
- Department of the Treasury
- Income tax deductions
- Wages and earnings
Sourced from Congress.gov (public domain).
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