HR 399 · 115th Congress 2017–2019, ended

Stop Subsidizing Multimillion Dollar Corporate Bonuses Act

Introduced Jan 10, 2017 Originated House Sponsor Lloyd Doggett D-TX

Fact sheet Spreadsheet

Latest action · Jan 10, 2017 Referred to the House Committee on Ways and Means.

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.

  1. IntroducedJan 10, 2017
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Stop Subsidizing Multimillion Dollar Corporate Bonuses Act

This bill 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 55

Members who signed on, in the order they did. Signatures ran from Jan 10, 2017 to Nov 28, 2017; 42 are original cosponsors, there from the day it was introduced.

SeatCosponsorSigned on
D-CAAlan S. LowenthalOriginalJan 10, 2017
D-FLAlcee L. HastingsOriginalJan 10, 2017
D-CABarbara LeeOriginalJan 10, 2017
D-NJBonnie Watson ColemanOriginalJan 10, 2017
D-NYBrian HigginsOriginalJan 10, 2017
D-ILDaniel LipinskiOriginalJan 10, 2017
D-NCDavid E. PriceOriginalJan 10, 2017
D-IADavid LoebsackOriginalJan 10, 2017
D-RIDavid N. CicillineOriginalJan 10, 2017
D-NJDonald M. Payne, Jr.OriginalJan 10, 2017
D-VADonald S. Beyer, Jr.OriginalJan 10, 2017
D-DCEleanor Holmes NortonOriginalJan 10, 2017
D-MDElijah E. CummingsOriginalJan 10, 2017
D-CAGrace F. NapolitanoOriginalJan 10, 2017
D-WIGwen MooreOriginalJan 10, 2017
D-MAJames P. McGovernOriginalJan 10, 2017
D-RIJames R. LangevinOriginalJan 10, 2017
D-MDJamie RaskinOriginalJan 10, 2017
D-ILJanice D. SchakowskyOriginalJan 10, 2017
D-CAJared HuffmanOriginalJan 10, 2017
D-KYJohn A. YarmuthOriginalJan 10, 2017
D-MIJohn Conyers, Jr.OriginalJan 10, 2017
D-CAJohn GaramendiOriginalJan 10, 2017
D-NYJose E. SerranoOriginalJan 10, 2017
D-CAJulia BrownleyOriginalJan 10, 2017
D-MNKeith EllisonOriginalJan 10, 2017
D-NYLouise McIntosh SlaughterOriginalJan 10, 2017
D-CALucille Roybal-AllardOriginalJan 10, 2017
D-OHMarcy KapturOriginalJan 10, 2017
D-CAMark DeSaulnierOriginalJan 10, 2017
D-WIMark PocanOriginalJan 10, 2017
D-MANiki TsongasOriginalJan 10, 2017
D-NYNydia M. VelázquezOriginalJan 10, 2017
D-NYPaul TonkoOriginalJan 10, 2017
D-ORPeter A. DeFazioOriginalJan 10, 2017
D-INPeter J. ViscloskyOriginalJan 10, 2017
D-AZRaúl M. GrijalvaOriginalJan 10, 2017
D-PARobert A. BradyOriginalJan 10, 2017
D-CTRosa L. DeLauroOriginalJan 10, 2017
D-AZRuben GallegoOriginalJan 10, 2017
D-NYSean Patrick MaloneyOriginalJan 10, 2017
D-CATed LieuOriginalJan 10, 2017
D-CAZoe LofgrenJan 24, 2017
D-NHCarol Shea-PorterJul 20, 2017
D-CAJudy ChuJul 20, 2017
D-CARo KhannaJul 20, 2017
D-NJBill Pascrell, Jr.Sep 8, 2017
D-CANorma J. TorresSep 8, 2017
D-MNRichard M. NolanSep 8, 2017
D-NYAdriano EspaillatNov 28, 2017
D-FLDarren SotoNov 28, 2017
D-GAHenry C. "Hank" Johnson, Jr.Nov 28, 2017
D-CAMark TakanoNov 28, 2017
D-PAMatt CartwrightNov 28, 2017
D-FLVal Butler DemingsNov 28, 2017

Committees 1

Where it was sent and what each committee and subcommittee did with it, in order.

ChamberCommitteeWhat it did
HouseWays and Means Committee
Referred Jan 10, 2017

Actions 2

Everything that happened, newest first.

  1. Jan 10, 2017Introduced in House
  2. Jan 10, 2017Referred to the House Committee on Ways and Means.

Research

What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.

Constitutional authority

Congress has the power to enact this legislation pursuant to the following: Clause 1 of Section 8 of Article I of the United States Constitution.

The sponsor’s statement, as printed in the Congressional Record, vol. 163, no. 6, January 10, 2017, page H299.

Related bills 2

Companion bills and other measures the record links to this one.

BillTitleRelationshipLatest action
S 82Stop Subsidizing Multimillion Dollar Corporate Bonuses ActIdentical billJan 10, 2017
HR 2103Stop Subsidizing Multimillion Dollar Corporate Bonuses ActReintroduction ofApr 29, 2015

Titles 2

Every title it has carried, official and short, at each stage.

Official Title as Introduced
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.

  1. Jan 10, 2017Introduced in House

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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.