To amend the Internal Revenue Code of 1986 to impose a tax on employers whose employees receive certain Federal benefits.
About This Bill
Committee
Latest Action · October 23, 2020
Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Corporate Responsibility and Taxpayer Protection Act of 2020
This bill imposes an excise tax on large employers (at least 500 full-time employees in the preceding calendar year) for qualified federal benefits received by their employees. The bill defines qualified federal benefits to include food stamps, school lunches, section 8 housing subsidies, and Medicaid benefits.
The bill exempts employers that pay their employees $15 per hour and have less than $100 million in assets.
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