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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - House of Representatives

Short Title(s) as Introduced

Employee Profit-Sharing Encouragement Act of 2021

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Internal Revenue Code of 1986 to deny the deduction for executive compensation unless the employer maintains profit-sharing distributions for employees.

Actions Overview (1)

Date Actions Overview
03/08/2021Introduced in House

All Actions (2)

Date All Actions
03/08/2021Referred to the House Committee on Ways and Means.
Action By: House of Representatives
03/08/2021Introduced in House
Action By: House of Representatives

Cosponsors (3)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Jones, Mondaire [D-NY-17] 03/19/2021
Rep. Omar, Ilhan [D-MN-5] 04/08/2021
Rep. Bush, Cori [D-MO-1] 06/01/2021

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Related Documents
House Ways and Means03/08/2021 Referred to

As of 06/17/2021 no related bill information has been received for H.R.1665 - Employee Profit-Sharing Encouragement Act of 2021

Subjects (5)

Latest Summary (1)

There is one summary for H.R.1665. View summaries

Shown Here:
Introduced in House (03/08/2021)

Employee Profit-Sharing Encouragement Act of 2021

This bill denies the business tax deduction for the remuneration of highly-compensated corporate employees unless the corporation has average annual gross receipts of less than $25 million and maintains a plan for making qualified profit-sharing distributions to its employees. The bill defines qualified profit-sharing distributions as cash distributions under a written employer plan that gives employees who have been employed for at least one year a right to profit-sharing distributions and bases the amount of such distributions on the measure of the receipts, profit, revenues, or earnings of the employer.