Income Equity Act of 2015

HB 1305 Income Equity Act of 2015

US Congress 114th Congress

Income Equity Act of 2015
HB-1305


About HB-1305

Income Equity Act of 2015 Amends the Internal Revenue Code to:

  • (1) deny employers a tax deduction for payments of excessive compensation to any full-time employee (i.e., compensation for services exceeding the greater of 25 times the median compensation paid to full-time employees during such taxable year or $500,000); and
  • (2) require such employers to file a report with the Secretary of the Treasury on excessive compensation (as defined by this Act) paid to their employees

Defines "compensation" to include wages, salary, deferred compensation, retirement contributions, options, bonuses, property, and any other form of compensation that the Secretary determines is appropriate.

  

Bill Texts

Introduced 03/14/2015

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History

Introduced In House

03/04/2015

Referred To The House Committee On Ways And Means.

03/04/2015