H.R.4412 - Wall Street Bonus Tax Act

To amend the Internal Revenue Code of 1986 to impose a 50 percent tax on bonuses paid by TARP recipients. view all titles (3)

All Bill Titles

  • Official: To amend the Internal Revenue Code of 1986 to impose a 50 percent tax on bonuses paid by TARP recipients. as introduced.
  • Popular: Wall Street Bonus Tax Act as introduced.
  • Short: Wall Street Bonus Tax Act as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
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12/19/09
 
 
 
 
 
 
 

Official Summary

Wall Street Bonus Tax Act - Amends the Internal Revenue Code to: (1) impose an excise tax on 50% of any bonus exceeding $50,000 paid during 2010 by a recipient of financial assistance under the Troubled Asset Relief Program (TARP) to a current or former employee; and (2) establish in the Tr

Official Summary

Wall Street Bonus Tax Act - Amends the Internal Revenue Code to:
(1) impose an excise tax on 50% of any bonus exceeding $50,000 paid during 2010 by a recipient of financial assistance under the Troubled Asset Relief Program (TARP) to a current or former employee; and
(2) establish in the Treasury the Small Business Growth Fund to hold revenues from such tax. Requires the Administrator of the Small Business Administration (SBA) to establish and carry out a program to make loans directly to small business concerns. Makes amounts from such Fund available to carry out such program.

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