SENATE 794117th CongressRead twice and referred to the Committee on Finance.

Tax Excessive CEO Pay Act of 2021

Last Action: 3/17/2021

Actions

2021-03-17Read twice and referred to the Committee on Finance.
2021-03-17Introduced in Senate

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 (3)

Elizabeth Warren (D-MA)
Chris Van Hollen (D-MD)
Edward Markey (D-MA)

Subjects

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

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