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- S.1007
S.1007: Excessive Pay Capped Deduction Act of 2009
About This Bill
- This bill was introduced in the 111th Congress
- This bill is primarily about taxation
- Introduced May 7, 2009
- Latest Major Action June 2, 2009
Bill Sponsor
Bill Summary
Excessive Pay Capped Deduction Act of 2009 - Amends the Internal Revenue Code to deny employers a tax deduction for excessive compensation paid to any employee. Defines: (1) "compensation" to include wages, salary, fees, commissions, fringe benefits, deferred compensation, retirement contributions, options, bonuses, and property; and (2) "excessive compensation" as the amount by which an employee's compensation exceeds 100 times the average...
(Source: Library of Congress)
Bill Actions
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Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.
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Referred to the Committee on Finance.
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| May 7, 2009 |
Introduced in the Senate by Richard J. Durbin (D-Ill.) |