To amend the Internal Revenue Code of 1986 to deny employers a deduction for payments of excessive compensation.

Summary

Official

Income Equity Act of 1997 - Amends the Internal Revenue Code to deny employers a deduction for payments of excessive compensation (more than 25 times the lowest compensation paid any other employee).

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Bill Progress

Bill has been introduced and assigned a number

Introduced(2/11/97)

Committee

Passed House

Passed Senate

President

Law

Cosponsors (8)

DeLauro

House (D) Connecticut

Davis

House (D) Illinois

Markey

Senate (D) Massachusetts

Velázquez

House (D) New York

Nadler

House (D) New York

McGovern

House (D) Massachusetts

Norton

House (D) District of Columbia

Sanders

Senate (I) Vermont

Latest Action

Referred to the House Committee on Ways and Means.

Feb 11, 1997