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S5011Referred to Committee

A bill to amend the Internal Revenue Code of 1986 to impose an excise tax on excessively disparate wages paid to chief executive officers.

Share:
Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2026-07-16
Introduced
5
Cosponsors
S
ⓘ
Type

Sponsor

Sheldon Whitehouse
Sheldon Whitehouse
Democrat · RI · Senator
Votes with party: 82.2% (827 recorded votes)

Full profile: /officials/W000802

Source: Congress.gov · FEC

Cosponsors (5)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

  • Chris Van Hollen (D-MD)Original· 2026-07-16
  • Elizabeth Warren (D-MA)Original· 2026-07-16
  • Jeff Merkley (D-OR)Original· 2026-07-16
  • Peter Welch (D-VT)Original· 2026-07-16
  • Tammy Baldwin (D-WI)Original· 2026-07-16

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Read twice and referred to the Committee on Finance.

2026-07-16

Source: Congress.gov

Committee Activity

Currently in

  • Senate Committee on FinanceReferred To · 2026-07-16

Plain-English Summary

The proposal would add a new tax on companies whose chief executive officers earn significantly more than their typical workers, with the tax rate increasing as the pay gap widens. This would affect large corporations and their shareholders, potentially encouraging companies to either raise worker pay or limit executive compensation to reduce their tax burden. The measure aims to address income inequality by making extreme pay disparities more costly for businesses.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

Full bill text is not yet cached locally.
Open text viewRead on Congress.gov

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Bills by the same sponsor or covering overlapping subjects.

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    Referred to Committee · 2026-06-08