H.R.4426 - 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 (2)

All Bill Titles

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

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Introduced
 
House
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Senate
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President
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01/12/10
 
 
 
 
 
 
 

Official Summary

Wall Street Bonus Tax Act - Amends the Internal Revenue Code to: (1) impose a tax on current or former employees of recipients of financial assistance under the Trouble Asset Relief Program (TARP) for 50% of any bonus exceeding $50,000 paid to them during 2010; and (2) establish in the Trea

Official Summary

Wall Street Bonus Tax Act - Amends the Internal Revenue Code to:
(1) impose a tax on current or former employees of recipients of financial assistance under the Trouble Asset Relief Program (TARP) for 50% of any bonus exceeding $50,000 paid to them during 2010; 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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