Pipeline · Bill → Law
Step 1
Introduced
Nov 2, 2023
Step 2
Referred
Nov 2, 2023
Ways & Means
Step 3
Committee
Step 4
House floor
Step 5
Senate
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary
This bill imposes an excise tax on employers (i.e., business entities) that have at least a 50 to 1 disparity between the wages (including bonuses, stock awards and options) of chief executive officers and the wages paid to their workers. The bill applies to employers that have not less than $100 million in annual gross receipts and $10 million in payroll over a 3 year period. The bill limits such tax to 1% of an employer's gross receipts.
Timeline · 2 actions
Nov 2, 2023
Introduced in House
Nov 2, 2023
Referred to the House Committee on Ways and Means.