HR 1654
Deposit act
Deposit Act
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Deliver Executive Profits On Seized Institutions to Taxpayers Act (DEPOSIT Act), increases the tax rate on bonuses and profits from stock sales received by executives of banks that have been closed and placed under FDIC conservatorship or receivership. Specifically, it targets bonuses paid after March 1, 2023, and stock sales occurring within 60 days of the FDIC’s appointment. The bill aims to return the revenue generated from these higher taxes to the Deposit Insurance Fund.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Cosponsors
Anna G. Eshoo
Barbara Lee
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yoursRead the latest version inline or switch to a previous version.