S.3544 - Prohibiting Incentives for Corporations that Kickout Employees Tax (PICKET) Act115th Congress (2017-2018)
|Sponsor:||Sen. Tester, Jon [D-MT] (Introduced 10/03/2018)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 10/03/2018 Read twice and referred to the Committee on Finance. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
Summary: S.3544 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in Senate (10/03/2018)
Prohibiting Incentives for Corporations that Kickout Employees Tax (PICKET) Act
This bill amends the Internal Revenue Code to increase the corporate tax rate from 21% to 35% for corporations participating in a labor lockout during the taxable year. A "labor lockout" is a dispute involving a work stoppage, wherein an employer withholds work from its employees in order to gain a concession from them.
The bill also denies certain tax deductions and credits for remuneration (including wages or other benefits) paid by the taxpayer to a temporary replacement worker during a labor lockout.