H.R. 1542 · 111th Congress
To amend the Internal Revenue Code of 1986 to impose a 100 percent tax on bonuses paid by businesses that…
Full title
To amend the Internal Revenue Code of 1986 to impose a 100 percent tax on bonuses paid by businesses that receive TARP assistance and are majority owned by the Federal Government.
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
MaloneySponsor7 cosponsors · 7 D
5 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Internal Revenue Code to impose an additional 100% income tax on bonuses paid to the employees of entities that received assistance under the Troubled Asset Relief Program (TARP) of the Emergency Economic Stabilization Act of 2008 and in which the federal government has an ownership interest greater than 50%.
What it does: CRS summary · Introduced in House · Mar 17, 2009
Amends the Internal Revenue Code to impose an additional 100% income tax on bonuses paid to the employees of entities that received assistance under the Troubled Asset Relief Program (TARP) of the Emergency Economic Stabilization Act of 2008 and in which the federal government has an ownership interest greater than 50%.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Internal Revenue Code of 1986 to impose a 100 percent tax on bonuses paid by businesses that receive TARP assistance and are majority owned by the Federal Government.
Latest action (Mar 17, 2009): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Mar 17, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.