118th Congress Taxation
S. 3620: Tax Excessive CEO Pay Act of 2024
Introduced
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
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.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Edward Markey D-MAOriginal
- Chris Van Hollen D-MDOriginal
- Elizabeth Warren D-MAOriginal
- Peter Welch D-VT
Who scored on this bill
- 1Bernard Sanders SponsorDrew cross-party cosponsors, introduced2 events+6
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Introductions and cosponsorships count toward weekly caps and show no points.
Other bills by Bernard Sanders
History
- Introduced in the Senate by Bernard Sanders.
Show the full action history (2 actions)
- Introduced in Senate
- Read twice and referred to the Committee on Finance.