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S 794 United States Senate · 117th Congress

Tax Excessive CEO Pay Act of 2021

Summary
Tax Excessive CEO Pay Act of 2021 This bill increases the current 21% income tax rate of corporations whose ratio of compensation of their principal executive officers or other highest compensated employees to median worker compensation is more than 50 to 1, in which case the increase is 0.5%. The pay ratio disparity extends from 100 to 1 to 500 to 1, in which case the increase is 5%. The bill exempts from such increase certain corporations based upon their average annual gross receipts.
Issues: ✓ Budget & TaxesSupports Budget & TaxesIncreases corporate tax rates (0.5%-5%) on pay disparity exceeding 50:1, closing tax loopholes for excessive CEO compensation to promote fiscal responsibility.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill taxes corporations with CEO pay >50x median worker pay, directly targeting wage disparity to protect workers' compensation rights and advance fair pay standards.90% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Mar 2021
Committee Review
Floor Vote
President
Introduced Mar 17, 2021 Last action Mar 17, 2021
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
1
Mar 17, 2021
Committee
Read twice and referred to the Committee on Finance.
upper
Mar 17, 2021
Introduced
Introduced in Senate
upper
1 primary · 3 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Bernard Sanders
Bernard Sanders
IIndependent
VT
n/a
Co
Photo of Chris Van Hollen
Chris Van Hollen
DDemocratic
MD
n/a
Co
Photo of Edward J. Markey
Edward J. Markey
DDemocratic
MA
n/a
Co
Photo of Elizabeth Warren
Elizabeth Warren
DDemocratic
MA
n/a