Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee debates CEO pay tax; bill moves to finance with negative recommendation
Summary
A proposal to add a 0.1% excise tax on corporations whose CEO-to-worker pay ratios exceed 100-to-1 drew extended debate in the House Government Operations Committee and advanced to the Finance, Ways and Means Committee with a negative recommendation (4–8).
The House Government Operations Committee on March 17 debated House Bill 431, the "CEO Pay Disparity Act," which would raise the corporate excise tax rate by 0.1% for companies whose chief executive officer makes more than 100 times the average worker pay.
Supporters said the measure would reduce the burden on taxpayers who are subsidizing low wages through public assistance programs. "If a company CEO makes more than a hundred times the average worker, then they'll be [assessed an] increase in the excise tax of 0.1%," Sponsor (Representative) said during the hearing. The sponsor cited a…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
