Curtailing Executive Overcompensation (CEO) Act

House Bill 6191 - Curtailing Executive Overcompensation (CEO) Act: Overview, Status, and Impact

Hozzl · 2023-12-15T16:03:26Z

Explore the details of House Bill 6191 Curtailing Executive Overcompensation (CEO) Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

12/15/2023, 4:03 PM

Congressional Summary of HR 6191

Curtailing Executive Overcompensation (CEO) Act

This bill imposes an excise tax on employers (i.e., business entities) that have at least a 50 to 1 disparity between the wages (including bonuses, stock awards and options) of chief executive officers and the wages paid to their workers. The bill applies to employers that have not less than $100 million in annual gross receipts and $10 million in payroll over a 3 year period.

The bill limits such tax to 1% of an employer's gross receipts.

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Current Status of Bill HR 6191

Bill HR 6191 is currently in the status of Bill Introduced since November 2, 2023. Bill HR 6191 was introduced during Congress 118 and was introduced to the House on November 2, 2023. Bill HR 6191's most recent activity was Referred to the House Committee on Ways and Means. as of November 2, 2023