Sherrod Brown Introduces Bill to Tax Executive Bonuses at Taxpayer-Assisted Companies

Senator Sherrod Brown (D-OH) “announced a new bill today that would tax bonuses given to executives at firms that received help from U.S. taxpayers in order to fund loans for small businesses,” according to a press release.

Brown’s bill would “use revenues generated from taxing bonuses at firms who received assistance through the Troubled Asset Relief Program (TARP) to help small businesses expand operations and hire new workers.”

Specifics:

Brown’s bill would impose a 50 percent tax on all bonuses – both cash and stock pay-outs – in excess of $50,000 given to executives at firms that received taxpayer-funded assistance through the Emergency Economic Stabilization Act of 2008. The revenues would be used to fund direct loans for small businesses administered by the Small Business Administration (SBA).

(credit image – washington post)

1 Comment

Filed under Small Business, TARP, Taxes

One response to “Sherrod Brown Introduces Bill to Tax Executive Bonuses at Taxpayer-Assisted Companies

  1. Remember when Clinton was going to cut CEO pay? Every policy like this has the opposite of the intended effect: http://www.businessweek.com/magazine/content/06_48/b4011079.htm

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s