H.R.4419 - Worker Dividend Act of 2019116th Congress (2019-2020)
|Sponsor:||Rep. Kennedy, Joseph P., III [D-MA-4] (Introduced 09/19/2019)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 09/19/2019 Referred to the House Committee on Ways and Means. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
Summary: H.R.4419 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in House (09/19/2019)
Worker Dividend Act of 2019
This bill imposes a tax on certain publicly traded companies that have at least $250 million in U.S. earnings for the year, buy back securities during the year, and fail to pay employees a worker dividend.
An employer covered by the bill must pay to U.S. employees a worker dividend that totals at least the lesser of: (1) the amount paid by the employer to repurchase securities of the employer on the open market during the taxable year; or (2) 50% of the amount by which the employer's U.S. earnings before interest, taxes, depreciation, and amortization exceed $250 million.
Employers who fail to pay a required worker dividend are subject to a tax that is equal to the required dividend.
The bill also specifies that the dividend must be distributed equally to employees and be paid in addition to compensation that the employer would ordinarily pay to employees.