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H.R. 1305: Income Equity Act of 2015

Title: Income Equity Act of 2015

Introduced: Mar 4, 2015 (114th Congress)

Sponsor: (No First Name Found) (No Last Name Found) [-]

Status: Referred to Committee - Referred to the House Committee on Ways and Means.

Summary: 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.

Votes

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