For decades, corporate America has taken full advantage of a rigged system, doling out multimillion-dollar bonuses while writing them off on their taxes. That’s $8 billion a year that working families are effectively handing over to fund the yachts and private jets or corporate executives.
The Stop Subsidizing Multimillion Dollar Corporate Bonuses Act would finally fix this. Introduced by Senator Jack Reed and Representative Doggett, this bill extends the $1 million tax deduction cap to all employees at publicly traded companies, not just the handful of top executives. That means no more tax write-offs for obscene pay packages.
This isn’t radical. It’s common sense. If a company wants to hand out $20 million bonuses, taxpayers shouldn’t be stuck with the bill.
Let’s be clear: this is about fairness. While working people pay their fair share, corporate executives use loopholes to live large on the public dime. This bill would prevent tax dollars from subsidizing luxury perks for the wealthy.
We need your voice to stop this handout to the ultra-rich and demand a tax code that works for everyone.
Fill out the form below and click ‘START WRITING’ to join us in calling on Congress to pass this bill. Close the loophole. End the giveaway. Put the public interest ahead of corporate greed now.