S.1548 - Prohibiting Incentives for Corporations that Kickout Employees Tax (PICKET) Act116th Congress (2019-2020) |
|Sponsor:||Sen. Tester, Jon [D-MT] (Introduced 05/20/2019)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 05/20/2019 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:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.1548 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (05/20/2019)
Prohibiting Incentives for Corporations that Kickout Employees Tax (PICKET) Act
This bill increases the corporate income 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.