DEPOSIT Act
- Last Action
- 3/14/2023
Actions
- 2023-03-14Read twice and referred to the Committee on Finance.
- 2023-03-14Introduced in Senate
CRS Summary
As of 2023-03-14 (00)
Deliver Executive Profits On Seized Institutions to Taxpayers Act or the DEPOSIT Act
This bill imposes an increased tax rate on bonuses paid after March 1, 2023, and profits from sales of bank stock received by highly-paid bank executives employed by failing banks that were closed and for which the Federal Deposit Insurance Corporation has been appointed conservator or receiver. The bill expresses the sense of the Senate that revenues from such increased taxes be returned to the Deposit Insurance Fund of the Federal Deposit Insurance Corporation.
Cosponsors (7)
- Kyrsten Sinema (I-AZ)
- Amy Klobuchar (D-MN)
- Tina Smith (D-MN)
- Mark Warner (D-VA)
- Peter Welch (D-VT)
- Jeff Merkley (D-OR)
- Jeanne Shaheen (D-NH)
Sourced from Congress.gov (public domain).
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