US SB2514 | 2019-2020 | 116th Congress

Status

Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on September 19 2019 - 25% progression
Action: 2019-09-19 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Worker Dividend Act of 2019 This bill imposes a tax on certain publicly traded companies that have at least $250 million in U.S. earnings for the year, buy back securities during the year, and fail to pay employees a worker dividend. An employer covered by the bill must pay to U.S. employees a worker dividend that totals at least the lesser of: (1) the amount paid by the employer to repurchase securities of the employer on the open market during the taxable year; or (2) 50% of the amount by which the employer's U.S. earnings before interest, taxes, depreciation, and amortization exceed $250 million. Employers who fail to pay a required worker dividend are subject to a tax that is equal to the required dividend. The bill also specifies that the dividend must be distributed equally to employees and be paid in addition to compensation that the employer would ordinarily pay to employees.

Tracking Information

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Title

Worker Dividend Act of 2019

Sponsors


History

DateChamberAction
2019-09-19SenateRead twice and referred to the Committee on Finance.

Same As/Similar To

HB4419 (Same As) 2019-09-19 - Referred to the House Committee on Ways and Means.

Subjects


US Congress State Sources


Bill Comments

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