S. 1127 · 114th Congress
Stop Subsidizing Multimillion Dollar Corporate Bonuses Act
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
ReedSponsor9 cosponsors · 8 D, 1 I
D
Blumenthal
EW
D
Warren
SW
D
Whitehouse
TU
D
Udall
BS
I
Sanders
TB
D
Baldwin
EM
D
Markey
JM
D
Merkley
AF
D
Franken1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Internal Revenue Code, with respect to the $1 million limitation on the deductibility of employee compensation, to: (1) extend such limitation to any individual who is a current or former officer, director, or employee of a publicly-held corporation; (2) eliminate the exemption from such limitation for compensation payable on a commission basis…
What it does: CRS summary · Introduced in Senate · Apr 29, 2015
Stop Subsidizing Multimillion Dollar Corporate Bonuses Act
Amends the Internal Revenue Code, with respect to the $1 million limitation on the deductibility of employee compensation, to: (1) extend such limitation to any individual who is a current or former officer, director, or employee of a publicly-held corporation; (2) eliminate the exemption from such limitation for compensation payable on a commission basis or upon the attainment of a performance goal; and (3) make such limitation applicable to all publicly-held corporations that are required by the Securities and Exchange Commission to register securities and provide periodic reports to their investors.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Stop Subsidizing Multimillion Dollar Corporate Bonuses Act
Latest action (Apr 29, 2015): Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure:CR S2532)
Policy area: Taxation · Origin: Senate · Introduced: Apr 29, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.