Tax Excessive CEO Pay Act of 2024
- Last Action
- 1/18/2024
Actions
- 2024-01-18Referred to the House Committee on Ways and Means.
- 2024-01-18Introduced in House
- 2024-01-18Introduced in House
CRS Summary
As of 2024-01-18 (00)
Tax Excessive CEO Pay Act of 2024
This bill increases the corporate income tax rate based on the ratio of compensation of principal executive
Specifically, the bill increases the corporate income tax rate by 0.5 percentage points for a corporation with a pay ratio disparity that is more than 50 to 1. The tax rate increases by 1 percentage point for a pay ratio disparity that is more than 100 to 1, but not greater than 200 to 1. The pay ratio disparity extends to 500 to 1, in which case the increase is 5 percentage points. The bill exempts from such an increase certain corporations based upon their average annual gross receipts.
Cosponsors (15)
- Rashida Tlaib (D-MI)
- ELEANOR NORTON (D-DC)
- Bonnie Watson Coleman (D-NJ)
- Ro Khanna (D-CA)
- Jesus Garcia (D-IL)
- JAMES MCGOVERN (D-MA)
- Ilhan Omar (D-MN)
- Pramila Jayapal (D-WA)
- Cori Bush (D-MO)
- Jared Huffman (D-CA)
- Raúl Grijalva (D-AZ)
- Jamaal Bowman (D-NY)
- JANICE SCHAKOWSKY (D-IL)
- Chellie Pingree (D-ME)
- Delia Ramirez (D-IL)
Sourced from Congress.gov (public domain).
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