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Stop Tax Breaks for Multimillion Dollar Corporate Bonuses

This act aims to expand the denial of tax deductions for certain excessive employee remuneration. This means companies will be limited in reducing their taxes by deducting compensation paid to covered individuals.
Key points
Companies will face expanded restrictions on deducting excessive executive remuneration from their taxes.
The definition of individuals subject to these limitations has been expanded from 'covered employee' to 'covered individual' to include more service providers.
These changes modify the definition of publicly held corporations and take effect for tax years beginning after December 31, 2020.
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Status:
Expired
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Additional Information
Stop Subsidizing Multimillion Dollar Corporate Bonuses Act
Print number: S 178
Sponsor: Sen. Reed, Jack [D-RI]
Process start date: 2021-02-02
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-3-pro-preview
Source data: api.congress.gov
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Summary & Status

Key Questions about Stop Tax Breaks for Multimillion Dollar Corporate Bonuses

A structured overview of the legislative process, official sources, status and civic context.

What is the official ID of this bill?

The official print number for this legislation is S 178.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-02-02.

What are the main provisions?

Key points include:

  • Companies will face expanded restrictions on deducting excessive executive remuneration from their taxes.
  • The definition of individuals subject to these limitations has been expanded from 'covered employee' to 'covered individual' to include more service providers.
  • These changes modify the definition of publicly held corporations and take effect for tax years beginning after December 31, 2020.

What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Reed, Jack [D-RI].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

Analysis and Potential Impact of S 178

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

CATEGORIES

Taxes Economy