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Main Subject: Taxation

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 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.

Senate Actions

IntroReferral
Jan. 18 2024	Read twice and referred to the Committee on Finance.

Library of Congress Actions

IntroReferral
Jan. 18 2024	Introduced in Senate

Senate bill S3620-118

Tax Excessive CEO Pay Act of 2024

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