H.R. 4412 · 111th Congress
Wall Street Bonus Tax Act
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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
WelchSponsorNo cosponsors.
Wall Street Bonus Tax Act - Amends the Internal Revenue Code to: (1) impose an excise tax on 50% of any bonus exceeding $50,000 paid during 2010 by a recipient of financial assistance under the Troubled Asset Relief Program (TARP) to a current or former employee; and (2) establish in the Treasury the Small Business Growth Fund to hold revenues from such tax.
What it does: CRS summary · Introduced in House · Dec 19, 2009
Wall Street Bonus Tax Act - Amends the Internal Revenue Code to: (1) impose an excise tax on 50% of any bonus exceeding $50,000 paid during 2010 by a recipient of financial assistance under the Troubled Asset Relief Program (TARP) to a current or former employee; and (2) establish in the Treasury the Small Business Growth Fund to hold revenues from such tax.
Requires the Administrator of the Small Business Administration (SBA) to establish and carry out a program to make loans directly to small business concerns. Makes amounts from such Fund available to carry out such program.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Wall Street Bonus Tax Act
Latest action (Dec 19, 2009): Referred to the Subcommittee on Finance and Tax.
Policy area: Taxation · Origin: House · Introduced: Dec 19, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.