S 3620
Tax Excessive CEO Pay Act of 2024
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Bill overview
The Tax Excessive CEO Pay Act of 2024 aims to address concerns about significant disparities between CEO compensation and worker pay. It proposes increasing the corporate tax rate for companies with a pay ratio exceeding 50 to 1, with the increase scaling based on the magnitude of the ratio. Corporations with average annual gross receipts below $100 million are exempt from this tax increase. The bill also includes several conforming amendments to ensure the new tax provisions are properly implemented.
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