HR 1979
Tax Excessive CEO Pay Act of 2021
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Bill overview
The Tax Excessive CEO Pay Act of 2021 aims to address concerns about significant disparities between CEO compensation and worker pay. It proposes increasing the corporate tax rate for companies whose ratio of CEO compensation to median worker compensation exceeds a certain threshold – specifically, 50 to 1 or higher. The increase in the tax rate would be proportional to the size of the disparity, with larger ratios resulting in a greater tax rate increase. Certain large corporations with lower average annual gross receipts are exempt from this tax increase.
Sponsors
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Primary sponsor
Barbara Lee
Cosponsors
Alcee L. Hastings
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