Stop Subsidizing Multimillion Dollar Corporate Bonuses Act
Latest action · Jan 12, 2023 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.
- IntroducedJan 12, 2023
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Stop Subsidizing Multimillion Dollar Corporate Bonuses Act
This bill extends the $1 million limit on the deductibility of executive compensation to all employees of publicly traded corporations.
Cosponsors 29
Members who signed on, in the order they did. Signatures ran from Jan 12, 2023 to Jun 13, 2024; 13 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NY | Adriano Espaillat | Original | Jan 12, 2023 |
| D-NJ | Bonnie Watson Coleman | Original | Jan 12, 2023 |
| D-RI | David N. Cicilline | Original | Jan 12, 2023 |
| D-OR | Earl Blumenauer | Original | Jan 12, 2023 |
| D-WI | Gwen Moore | Original | Jan 12, 2023 |
| D-IL | Janice D. Schakowsky | Original | Jan 12, 2023 |
| D-CA | John Garamendi | Original | Jan 12, 2023 |
| D-CA | Judy Chu | Original | Jan 12, 2023 |
| D-CA | Mark DeSaulnier | Original | Jan 12, 2023 |
| D-WI | Mark Pocan | Original | Jan 12, 2023 |
| D-AZ | Raúl M. Grijalva | Original | Jan 12, 2023 |
| D-CT | Rosa L. DeLauro | Original | Jan 12, 2023 |
| D-TN | Steve Cohen | Original | Jan 12, 2023 |
| D-NY | Jamaal Bowman | Feb 9, 2023 | |
| D-MD | Jamie Raskin | Feb 9, 2023 | |
| D-PA | Susan Wild | Feb 9, 2023 | |
| D-TX | Greg Casar | Feb 14, 2023 | |
| D-CA | Katie Porter | Jan 30, 2024 | |
| D-DC | Eleanor Holmes Norton | Mar 12, 2024 | |
| D-GA | Henry C. "Hank" Johnson, Jr. | Mar 12, 2024 | |
| D-CA | Mark Takano | Mar 12, 2024 | |
| D-MI | Rashida Tlaib | Mar 12, 2024 | |
| D-PA | Summer L. Lee | Mar 12, 2024 | |
| D-OR | Andrea Salinas | Apr 10, 2024 | |
| D-IL | Jesús G. "Chuy" García | Apr 10, 2024 | |
| D-HI | Jill N. Tokuda | Apr 10, 2024 | |
| D-NM | Melanie A. Stansbury | Apr 10, 2024 | |
| D-RI | Seth Magaziner | Apr 10, 2024 | |
| D-PA | Christopher R. Deluzio | Jun 13, 2024 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Ways and Means Committee | Referred Jan 12, 2023 |
Actions 2
Everything that happened, newest first.
- Jan 12, 2023Introduced in House
- Jan 12, 2023Referred 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
The sponsor’s statement, as printed in the Congressional Record, vol. 169, no. 10, January 12, 2023, page H235.
Printed hearings 1
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| S. Hrg. 118-210 | STANDING UP AGAINST CORPORATE GREED: HOW UNIONS ARE IMPROVING THE LIVES OF WORKING FAMILIES1,038 pages | Health, Education, Labor, and Pensions Committee | Nov 14, 2023 |
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 697 | Stop Subsidizing Multimillion Dollar Corporate Bonuses Act | Reintroduction of | Feb 2, 2021 |
| S 3155 | Stop Subsidizing Multimillion Dollar Corporate Bonuses Act | Related bill | Oct 26, 2023 |
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 Title(s) 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 12, 2023Introduced in House
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.
