To amend the Internal Revenue Code of 1986 to impose a 70 percent tax on certain compensation received from certain companies receiving Federal bailout funds.

Summary

Amends the Internal Revenue Code to impose a 70% tax on compensation in excess of $1 million received by an employee from an employer who has received, in the aggregate, economic assistance of more than $500 million under the Troubled Asset Relief Program (TARP) of the Emergency Economic Stabilization Act of 2008 or the Housing and Economic Recovery Act of 2008. Exempts employees who return such compensation to their employer or who receive such compensation as a commissioned sales person.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 30 March 2009

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 30 March 2009

   Introduced

   Introduced in House

   Source: IntroReferral

3. 30 March 2009

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 30 March 2009 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 30 March 2009

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 30 March 2009

  ViewDownloadOpen at official source

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  Vertaal document

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• Introduced in House

  summary · EN · 30 March 2009

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Sherman, Brad [D-CA-32] · D · Sponsor
• Rep. Kaptur, Marcy [D-OH-9] · D · Sponsor
• Rep. Filner, Bob [D-CA-51] · D · Sponsor
• Rep. Kucinich, Dennis J. [D-OH-10] · D · Sponsor
• Rep. DeFazio, Peter A. [D-OR-4] · D · Sponsor
• · hswm00 · Standing

Related records

• related to → Bailout Bonus Tax Bracket Act of 2009
• related to → To amend the Internal Revenue Code of 1986 to impose a higher rate of tax on bonuses paid by certain businesses owned by the Federal Government.
• related to → To amend the Internal Revenue Code of 1986 to impose a 100 percent tax on bonuses paid by businesses that receive TARP assistance and are majority owned by the Federal Government.
• related to → To amend the Internal Revenue Code of 1986 to impose a tax on bonuses received from companies receiving TARP funds.
• related to → Taxpayer Protection Act
• related to → FAA Air Transportation Modernization and Safety Improvement Act
• related to → AIG Key Executives Bonus Accountability and Capture (TAKE BACK) Act
• related to ← Recoupment of Wall Street Bonus Act