Stop Subsidizing Multimillion Dollar Corporate Bonuses Act
Latest action · Jan 10, 2017 Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S206-207)
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.
- IntroducedJan 10, 2017
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- 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 7
Members who signed on, in the order they did. Signatures ran from Jan 10, 2017 to Sep 7, 2017; 1 is an original cosponsor, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-CT | Richard Blumenthal | Original | Jan 10, 2017 |
| D-MD | Chris Van Hollen | Jan 11, 2017 | |
| D-WI | Tammy Baldwin | Feb 1, 2017 | |
| D-MA | Elizabeth Warren | Feb 15, 2017 | |
| D-RI | Sheldon Whitehouse | Feb 15, 2017 | |
| D-OH | Sherrod Brown | Mar 15, 2017 | |
| D-OR | Jeff Merkley | Sep 7, 2017 |
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 Jan 10, 2017 |
Actions 2
Everything that happened, newest first.
- Jan 10, 2017Introduced in Senate
- Jan 10, 2017Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S206-207)
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 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 399 | Stop Subsidizing Multimillion Dollar Corporate Bonuses Act | Identical bill | Jan 10, 2017 |
| S 1127 | Stop Subsidizing Multimillion Dollar Corporate Bonuses Act | Reintroduction of | Apr 29, 2015 |
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.
- Jan 10, 2017Introduced 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.
