House Bill 5066
116th Congress(2019-2020)
Tax Excessive CEO Pay Act of 2019
Introduced
Introduced in House on Nov 13, 2019
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
5066
Congress
116
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No House votes have been held for this bill.
Summary
Tax Excessive CEO Pay Act of 2019
This bill requires an increase in the corporate income tax rate based upon the ratio of compensation paid to the corporation's highest paid employee to median worker compensation. The pay ratios range from greater than 50 to 1 (0.5% increase) to greater than 500 to 1 (5% increase). The bill exempts corporations whose average annual gross receipts during a three-year period are less than $100 million from the rate increase.
November 13, 2019
11/13/2019
Referred to the House Committee on Ways and Means.
11/13/2019
Introduced in House
Public Record
Record Updated
Nov 1, 2022 5:17:27 AM