Legis Daily

DEPOSIT Act

USA118th CongressS-800| Senate 
| Updated: 3/14/2023
Richard Blumenthal

Richard Blumenthal

Democratic Senator

Connecticut

Cosponsors (7)
Jeanne Shaheen (Democratic)Mark R. Warner (Democratic)Amy Klobuchar (Democratic)Kyrsten Sinema (Independent)Tina Smith (Democratic)Peter Welch (Democratic)Jeff Merkley (Democratic)

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Deliver Executive Profits On Seized Institutions to Taxpayers Act or the DEPOSIT Act This bill imposes an increased tax rate on bonuses paid after March 1, 2023, and profits from sales of bank stock received by highly-paid bank executives employed by failing banks that were closed and for which the Federal Deposit Insurance Corporation has been appointed conservator or receiver. The bill expresses the sense of the Senate that revenues from such increased taxes be returned to the Deposit Insurance Fund of the Federal Deposit Insurance Corporation.
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Timeline
Mar 14, 2023
Introduced in Senate
Mar 14, 2023
Read twice and referred to the Committee on Finance.
Mar 17, 2023

Latest Companion Bill Action

HR 118-1654
Introduced in House
  • March 14, 2023
    Introduced in Senate


  • March 14, 2023
    Read twice and referred to the Committee on Finance.


  • March 17, 2023

    Latest Companion Bill Action

    HR 118-1654
    Introduced in House

Taxation

Related Bills

  • HR 118-1654: DEPOSIT Act

DEPOSIT Act

USA118th CongressS-800| Senate 
| Updated: 3/14/2023
Deliver Executive Profits On Seized Institutions to Taxpayers Act or the DEPOSIT Act This bill imposes an increased tax rate on bonuses paid after March 1, 2023, and profits from sales of bank stock received by highly-paid bank executives employed by failing banks that were closed and for which the Federal Deposit Insurance Corporation has been appointed conservator or receiver. The bill expresses the sense of the Senate that revenues from such increased taxes be returned to the Deposit Insurance Fund of the Federal Deposit Insurance Corporation.
View Full Text

Suggested Questions

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

Timeline
Mar 14, 2023
Introduced in Senate
Mar 14, 2023
Read twice and referred to the Committee on Finance.
Mar 17, 2023

Latest Companion Bill Action

HR 118-1654
Introduced in House
  • March 14, 2023
    Introduced in Senate


  • March 14, 2023
    Read twice and referred to the Committee on Finance.


  • March 17, 2023

    Latest Companion Bill Action

    HR 118-1654
    Introduced in House
Richard Blumenthal

Richard Blumenthal

Democratic Senator

Connecticut

Cosponsors (7)
Jeanne Shaheen (Democratic)Mark R. Warner (Democratic)Amy Klobuchar (Democratic)Kyrsten Sinema (Independent)Tina Smith (Democratic)Peter Welch (Democratic)Jeff Merkley (Democratic)

Finance Committee

Taxation

Related Bills

  • HR 118-1654: DEPOSIT Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted