Senate Bill 3620 - Tax Excessive CEO Pay Act of 2024

Purpose and Summary

Chamber: Senate

Introduced date: 2024-01-18

Recent Activity

Read twice and referred to the Committee on Finance.

Alternative Names

Tax Excessive CEO Pay Act of 2024

Tax Excessive CEO Pay Act of 2024

A bill to amend the Internal Revenue Code of 1986 to impose a corporate tax rate increase on companies whose ratio of compensation of the CEO or other highest paid employee to median worker compensation is more than 50 to 1, and for other purposes.

Associated Legislation

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Policy Areas

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Potential Impact

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Sponsors and Supporters

Sen. Sanders, Bernard [I-VT]

Cosponsors and Supporters

Sen. Warren, Elizabeth [D-MA]

Sen. Van Hollen, Chris [D-MD]

Sen. Markey, Edward J. [D-MA]

Sen. Welch, Peter [D-VT]

Committees and Subcommittees

Finance Committee

Variations and Revisions

Tax Excessive CEO Pay Act of 2024

2/3/2024, 12:45 PM

Tax Excessive CEO Pay Act of 2024

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 com...

Congress
118
Number
S - 3620
Introduced on
2024-01-18
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

1/18/2024
Text
PDF
XML

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Tax Excessive CEO Pay Act of 2024

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 com...

Alternative Names
Official Title as IntroducedA bill to amend the Internal Revenue Code of 1986 to impose a corporate tax rate increase on companies whose ratio of compensation of the CEO or other highest paid employee to median worker compensation is more than 50 to 1, and for other purposes.

Comments

Recent Activity

Latest Summary2/14/2024

Tax Excessive CEO Pay Act of 2024

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 com...

Latest Action1/18/2024
Read twice and referred to the Committee on Finance.