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)
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedApr 29, 2015
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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.
Cosponsors 9
Members who signed on, in the order they did. Signatures ran from Apr 29, 2015 to Sep 27, 2016; 1 is an original cosponsor, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-CT | Richard Blumenthal | Original | Apr 29, 2015 |
| D-MA | Elizabeth Warren | Apr 30, 2015 | |
| D-RI | Sheldon Whitehouse | May 6, 2015 | |
| D-NM | Tom Udall | Jun 4, 2015 | |
| I-VT | Bernard Sanders | Sep 16, 2015 | |
| D-WI | Tammy Baldwin | Dec 3, 2015 | |
| D-MA | Edward J. Markey | Jun 20, 2016 | |
| D-OR | Jeff Merkley | Sep 26, 2016 | |
| D-MN | Al Franken | Sep 27, 2016 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Finance Committee | Referred Apr 29, 2015 |
Actions 2
Everything that happened, newest first.
- Apr 29, 2015Introduced in Senate
- Apr 29, 2015Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S2532)
In the Congressional Record 1
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
Related bills 5
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 82 | Stop Subsidizing Multimillion Dollar Corporate Bonuses Act | Reintroduced Bill | Jan 10, 2017 |
| HR 2103 | Stop Subsidizing Multimillion Dollar Corporate Bonuses Act | Related bill | Apr 29, 2015 |
| S 2251 | SAVE Benefits Act | Related bill | Nov 5, 2015 |
| S 2677 | In the Red Act of 2016 | Related bill | Mar 15, 2016 |
| HR 5106 | In the Red Act of 2016 | Related bill | Sep 19, 2016 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to amend the Internal Revenue Code of 1986 to expand the denial of deduction for certain excessive employee remuneration, and for other purposes.
- Short Titles as Introduced
- Stop Subsidizing Multimillion Dollar Corporate Bonuses Act
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Apr 29, 2015Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
