CONGRESS FOR VOTERS

DemocratBill · H.R. 3140· House(119-HR-3140)

Stop Subsidizing Multimillion Dollar Corporate Bonuses Act

Rep. Doggett
Age: 80 years
Texas
Introduced
5/1/2025
Last activity
5/1/2025 — Referred to the House Committee on Ways and Means.
Sponsored by
Lloyd Doggett
Cosponsors
Democrat - 22Republican - 0
Taxation
  1. Introduced
  2. In Committee

What this bill would do

This bill, titled the "Stop Subsidizing Multimillion Dollar Corporate Bonuses Act," aims to amend the Internal Revenue Code of 1986. It focuses on expanding the denial of tax deductions for certain excessive employee remuneration. The legislation redefines terms such as "covered employee" to "covered individual" and broadens the scope of who is included in these definitions. It also modifies the definition of a publicly held corporation. Additionally, it grants the Secretary authority to create regulations to prevent the avoidance of these rules through pass-through entities. These changes are intended to apply to taxable years beginning after December 31, 2024.

Yes· 3 of 7

  • Does this raise the taxes companies pay?+5

    The bill increases the corporate tax burden by expanding the denial of deductions for high-level compensation.

  • Does this raise taxes on the highest earners?+4

    By denying deductions for excessive remuneration of high-earning individuals, the bill effectively increases the tax burden on those receiving high compensation.

  • Does this reduce what the federal government spends?+2

    Increasing tax revenue from corporations can marginally reduce the need for deficit spending.

The opposite

  • Would high-income households be better off under this?-5

    The bill targets high-earning individuals by denying corporations the ability to deduct their compensation.

  • Would business owners be better off under this?-4

    The bill negatively impacts business owners of large corporations by reducing available tax deductions.