S. 1476: Stop Subsidizing Multimillion Dollar Corporate Bonuses Act

113th Congress · introduced 2013-08-01 · Taxation · Latest: Read twice and referred to the Committee on Finance.

federal

Follow this bill, step by step

Where it came from: introduced 2013-08-01 · official record
Who proposed it: Sen. Reed, Jack [D-RI] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Finance. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Stop Subsidizing Multimillion Dollar Corporate Bonuses Act

Plain summary

Stop Subsidizing Multimillion Dollar Corporate Bonuses Act - Amends the Internal Revenue Code, with respect to the $1 million limitation on the deductibility of employee compensation, to: (1) extend such limitation to any individual who is a current or former officer, director, or employee of a publicly-held corporation; (2) eliminate the exemption from such limitation for compensation payable on a commission basis or upon the attainment of a performance goal; and (3) make such limitation applicable to all publicly-held corporations that are required by the Securities and Exchange Commission (SEC) to register securities and provide periodic reports to their investors.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Stop Subsidizing Multimillion Dollar Corporate Bonuses Act

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Reed, Jack [D-RI] · 10 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Richard Blumenthal (D-CT), Bernard Sanders (I-VT), Sheldon Whitehouse (D-RI), Edward J. Markey (D-MA), Elizabeth Warren (D-MA), Patty Murray (D-WA), Tammy Baldwin (D-WI)

Sponsor's campaign money: Sen. Reed, Jack [D-RI] reported raising $3.7 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)

Exemption: A rule that removes certain people, property or activities from a tax or requirement.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-113s1476.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/113/s>

Record fed-us-cong113-s1476 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113