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H.R. 4412

BillFederalHouseIn Committee
Wall Street Bonus Tax Act
About This Bill
Committee
Latest Action · December 19, 2009
Referred to the Subcommittee on Finance and Tax.
Congress
111th (2009–2011)
Introduced
December 19, 2009
Cosponsors (0)
None
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Summary

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Wall Street Bonus Tax Act - Amends the Internal Revenue Code to: (1) impose an excise tax on 50% of any bonus exceeding $50,000 paid during 2010 by a recipient of financial assistance under the Troubled Asset Relief Program (TARP) to a current or former employee; and (2) establish in the Treasury the Small Business Growth Fund to hold revenues from such tax. Requires the Administrator of the Small Business Administration (SBA) to establish and carry out a program to make loans directly to small business concerns. Makes amounts from such Fund available to carry out such program.

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