[Congressional Record Volume 167, Number 42 (Friday, March 5, 2021)]
[Senate]
[Page S1372]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 1337. Mr. TOOMEY submitted an amendment intended to be proposed to 
amendment SA 891 proposed by Mr. Schumer (for himself, Mr. Wyden, Mrs. 
Murray, Mr. Brown, Mr. Peters, Mr. Cardin, Ms. Cantwell, Ms. Stabenow, 
Mr. Tester, Mr. Menendez, Mr. Schatz, Mr. Carper, Mr. Leahy, and Mr. 
Sanders) to the bill H.R. 1319, to provide for reconciliation pursuant 
to title II of S. Con. Res. 5; which was ordered to lie on the table; 
as follows:

       Beginning on page 259, strike line 6 and all that follows 
     through page 263, line 15, and insert the following:
       (D) certifies to the Secretary that such air carrier will--
       (i) refrain from conducting involuntary furloughs or 
     reducing pay rates or benefits until September 30, 2021, or 
     the date on which assistance provided under this section is 
     exhausted, whichever is later;
       (ii) refrain from purchasing an equity security of the air 
     carrier or the parent company of the air carrier that is 
     listed on a national securities exchange through September 
     30, 2022;
       (iii) refrain from paying dividends, or making other 
     capital distributions, with respect to common stock (or 
     equivalent interest) of such air carrier through September 
     30, 2022; and
       (iv) during the 2-year period beginning April 1, 2021, and 
     ending April 1, 2023, refrain from paying--

       (I) any officer or employee of the air carrier whose total 
     compensation exceeded $150,000 in calendar year 2019--

       (aa) total compensation that exceeds, during any 12 
     consecutive months of such 2-year period, the total 
     annualized compensation received by the officer or employee 
     from the air carrier as of the date of enactment of this Act; 
     or
       (bb) severance pay or other benefits upon termination of 
     employment with the air carrier which exceeds twice the 
     maximum total compensation received by the officer or 
     employee from the air carrier in calendar year 2019; and

       (II) any officer or employee of the air carrier whose total 
     compensation exceeded $3,000,000 in calendar year 2019 during 
     any 12 consecutive months of such period total compensation 
     in excess of the sum of--

       (aa) $3,000,000; and
       (bb) 50 percent of the excess over $3,000,000 of the total 
     compensation received by the officer or employee from the air 
     carrier in calendar year 2019.
       (5) the term ``eligible contractor'' means a contractor 
     that--
       (A) received financial assistance pursuant to section 
     402(a)(2) of division N of the Consolidated Appropriations 
     Act, 2021 (Public Law 116-260);
       (B) performs one or more of the functions described under 
     paragraph (2) as of March 31, 2021;
       (C) has not conducted involuntary furloughs or reduced pay 
     rates or benefits between March 31, 2021, and the date on 
     which the contractor makes a certification to the Secretary 
     pursuant to subparagraph (D); and
       (D) certifies to the Secretary that such contractor will--
       (i) refrain from conducting involuntary furloughs or 
     reducing pay rates or benefits until September 30, 2021, or 
     the date on which assistance provided under this section is 
     exhausted, whichever is later;
       (ii) refrain from purchasing an equity security of the 
     contractor or the parent company of the contractor that is 
     listed on a national securities exchange through September 
     30, 2022;
       (iii) refrain from paying dividends, or making other 
     capital distributions, with respect to common stock (or 
     equivalent interest) of the contractor through September 30, 
     2022; and
       (iv) during the 2-year period beginning April 1, 2021, and 
     ending April 1, 2023, refrain from paying--

       (I) any officer or employee of the contractor whose total 
     compensation exceeded $150,000 in calendar year 2019--

       (aa) total compensation that exceeds, during any 12 
     consecutive months of such 2-year period, the total 
     annualized compensation received by the officer or employee 
     from the contractor as of the date of enactment of this Act; 
     or
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