US Congress Senate Bill 1843 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on September 19 2017 - 25% progression, died in committee
Action: 2017-09-19 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Stop CEO Excessive Pay Act The bill amends the Internal Revenue Code, with respect to the deduction for trade or business expenses, to prohibit a deduction for excessive compensation for any employee of the taxpayer. "Excessive compensation" is the amount by which the compensation for services performed by an employee during the year exceeds the lesser of: (1) the median of the compensation paid for services performed by all employees of the taxpayer during the taxable year, multiplied by 25; or (2) $1 million. The bill amends the Securities Exchange Act of 1934 to: (1) prohibit an issuer from paying excessive compensation to an employee unless the compensation is approved by at least 50% of the shareholders, and (2) impose monetary penalties on issuers that violate the requirement. The bill also prohibits tax deductions for penalties paid to the Securities and Exchange Commission pursuant to this bill.

Stop CEO Excessive Pay Act

Sen. Kirsten Gillibrand [D-NY]

Sen. Richard Durbin [D-IL]

Date	Chamber	Action
2017-09-19	Senate	Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/senate-bill/1843/all-info
Text	https://www.congress.gov/115/bills/s1843/BILLS-115s1843is.pdf