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Worker Dividend Act of 2019

USA116th CongressHR-4419| House 
| Updated: 9/19/2019
Joseph P. Kennedy

Joseph P. Kennedy

Democratic Representative

Massachusetts

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Worker Dividend Act of 2019 This bill imposes a tax on certain publicly traded companies that have at least $250 million in U.S. earnings for the year, buy back securities during the year, and fail to pay employees a worker dividend. An employer covered by the bill must pay to U.S. employees a worker dividend that totals at least the lesser of: (1) the amount paid by the employer to repurchase securities of the employer on the open market during the taxable year; or (2) 50% of the amount by which the employer's U.S. earnings before interest, taxes, depreciation, and amortization exceed $250 million. Employers who fail to pay a required worker dividend are subject to a tax that is equal to the required dividend. The bill also specifies that the dividend must be distributed equally to employees and be paid in addition to compensation that the employer would ordinarily pay to employees.
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Timeline
Sep 19, 2019

Latest Companion Bill Action

S 116-2514
Introduced in Senate
Sep 19, 2019
Introduced in House
Sep 19, 2019
Referred to the House Committee on Ways and Means.
  • September 19, 2019

    Latest Companion Bill Action

    S 116-2514
    Introduced in Senate


  • September 19, 2019
    Introduced in House


  • September 19, 2019
    Referred to the House Committee on Ways and Means.

Taxation

Related Bills

  • S 116-2514: Worker Dividend Act of 2019
Business recordsCapital gains taxCorporate finance and managementEmployee benefits and pensionsGovernment information and archivesInterest, dividends, interest ratesSales and excise taxesSecuritiesWages and earnings

Worker Dividend Act of 2019

USA116th CongressHR-4419| House 
| Updated: 9/19/2019
Worker Dividend Act of 2019 This bill imposes a tax on certain publicly traded companies that have at least $250 million in U.S. earnings for the year, buy back securities during the year, and fail to pay employees a worker dividend. An employer covered by the bill must pay to U.S. employees a worker dividend that totals at least the lesser of: (1) the amount paid by the employer to repurchase securities of the employer on the open market during the taxable year; or (2) 50% of the amount by which the employer's U.S. earnings before interest, taxes, depreciation, and amortization exceed $250 million. Employers who fail to pay a required worker dividend are subject to a tax that is equal to the required dividend. The bill also specifies that the dividend must be distributed equally to employees and be paid in addition to compensation that the employer would ordinarily pay to employees.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Sep 19, 2019

Latest Companion Bill Action

S 116-2514
Introduced in Senate
Sep 19, 2019
Introduced in House
Sep 19, 2019
Referred to the House Committee on Ways and Means.
  • September 19, 2019

    Latest Companion Bill Action

    S 116-2514
    Introduced in Senate


  • September 19, 2019
    Introduced in House


  • September 19, 2019
    Referred to the House Committee on Ways and Means.
Joseph P. Kennedy

Joseph P. Kennedy

Democratic Representative

Massachusetts

Ways and Means Committee

Taxation

Related Bills

  • S 116-2514: Worker Dividend Act of 2019
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Business recordsCapital gains taxCorporate finance and managementEmployee benefits and pensionsGovernment information and archivesInterest, dividends, interest ratesSales and excise taxesSecuritiesWages and earnings