118th Congress · HOUSE BILLBILL

H.R. 1284 — CEO Accountability and Responsibility Act

“To amend the Internal Revenue Code of 1986 to adjust the rate of income tax of a publicly traded corporation based on the ratio of compensation of the corporation's highest paid employee to the median compensation of all the corporation's employees, and for other purposes.”

Taxation

Introduced Mar 1, 2023

Last action Mar 1, 2023

Pipeline · Bill → Law

Step 1

Introduced

Mar 1, 2023

Step 2

Referred

Mar 1, 2023

Oversight · Ways & Means

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill increases the corporate income tax rate for publicly traded corporations that pay their chief executive officers or highest paid employees more than 100 times the median compensation of all their U.S. employees or that increase the number of contracted or foreign employees. The bill also requires an executive agency, in the evaluation of bids or proposals for federal contracts, to give preference to a bidder that has a compensation ratio of highly paid to all employees of less than 50 to 1 in the previous calendar year.

Provisions · 3 sectionsIntroduced in House

Timeline · 3 actions

Mar 1, 2023

Introduced in House

Mar 1, 2023

Referred to the Committee on Ways and Means, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Mar 1, 2023