House Bill 1979
117th Congress(2021-2022)
Tax Excessive CEO Pay Act of 2021
Introduced
Introduced in House on Mar 17, 2021
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
1979
Congress
117
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 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.
March 17, 2021
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03/17/2021
Referred to the House Committee on Ways and Means.
03/17/2021
Introduced in House
Public Record
Record Updated
Mar 8, 2023 7:58:06 PM