3.0.0 2505 2023-01-11T13:40:01Z 2023-01-11T13:40:01Z Senate S 2018-03-06 115 ssfi00 Finance Committee Senate Standing Referred to 2018-03-07T00:07:46Z 2018-03-06 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2018-03-06 Introduced in Senate IntroReferral 10000 9 Library of Congress B001288 Sen. Booker, Cory A. [D-NJ] Cory Booker D NJ N C001070 Sen. Casey, Robert P., Jr. [D-PA] Bob Casey D PA 2018-03-06 True Taxation Taxation 00 2018-03-06 Introduced in Senate 2018-09-06T14:08:17Z Worker Dividend Act of 2018

This bill amends the Internal Revenue Code to impose 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.

]]> Worker Dividend Act of 2018 Display Title Worker Dividend Act of 2018 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to ensure that workers and communities that are responsible for record corporate profits benefit from the wealth that those workers and communities help to create, and for other purposes. Introduced in Senate IS Short Titles as Introduced Worker Dividend Act of 2018 Introduced in Senate 2018-03-06T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s2505is/xml/BILLS-115s2505is.xml 2018-03-06 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.