Stop Subsidizing Multimillion Dollar Corporate Bonuses Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 3140 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 3140 To amend the Internal Revenue Code of 1986 to expand the denial of deduction for certain excessive employee remuneration, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 1, 2025 Mr. Doggett (for himself, Mr. Casar, Ms. Chu, Mr. Cohen, Ms. DeLauro, Mr. Deluzio, Mr. Espaillat, Mr. Garamendi, Mr. Garcia of Illinois, Mr. Johnson of Georgia, Ms. Lee of Pennsylvania, Mr. Magaziner, Ms. Moore of Wisconsin, Ms. Norton, Mr. Raskin, Ms. Salinas, Ms. Schakowsky, Ms. Stansbury, Mr. Takano, Ms. Tlaib, Ms. Tokuda, and Mrs. Watson Coleman) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to expand the denial of deduction for certain excessive employee remuneration, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Stop Subsidizing Multimillion Dollar Corporate Bonuses Act''. SEC. 2. EXPANSION OF DENIAL OF DEDUCTION FOR CERTAIN EXCESSIVE EMPLOYEE REMUNERATION. (a) In General.-- (1) Expansion.--Section 162(m) of the Internal Revenue Code of 1986 is amended-- (A) by striking ``applicable employee remuneration'' each place it appears in paragraphs (1), (4), and (5)(E) and inserting ``applicable remuneration'', (B) by striking ``covered employee'' each place it appears in paragraphs (1) and (4) and inserting ``covered individual'', and (C) by striking ``employee'' each place it appears in paragraph (1) and subparagraphs (A), (C)(ii), and (E) of paragraph (4) and inserting ``individual''. (2) Covered individual.--Paragraph (3) of section 162(m) of suc