| Bill | S 3176 |
|---|---|
| Type of Legislation | Senate Bill |
| Congress | 118 |
| Status | Archived — 118th Congress concluded |
| Source | View original on Congress.gov |
Geographic Scope
National
Description
Curtailing Executive Overcompensation (CEO) Act
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.
Bill Title
Curtailing Executive Overcompensation (CEO) Act
Linked Goals
Steps
- 2023-11-01: Read twice and referred to the Committee on Finance.
- 2023-11-01: Introduced in Senate
Projected Outcome
A more informed proposal or public response aligned with the Promote General Welfare goal.