A bill to amend the Internal Revenue Code of 1986 to impose an excise tax on excessively disparate wages paid to chief executive officers.
Curtailing Executive Overcompensation (CEO) Act
This bill imposes an excise tax on employers (i.e., business entities) that have at least a 50 to 1 disparity between the wages (including bonuses, stock awards and options) of chief executive officers and the wages paid to their workers. The bill applies to employers that have not less than $100 million in annual gross receipts and $10 million in payroll over a 3 year period.
The bill limits such tax to 1% of an employer's gross receipts.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line