[Congressional Record (Bound Edition), Volume 161 (2015), Part 1]
[House]
[Page 149]
[From the U.S. Government Publishing Office, www.gpo.gov]




                              {time}  1230
  AMERICAN PEOPLE ARE BEING MISLED AS TO THE CONSEQUENCES OF COMPANY 
                                BONUSES

  (Mr. CONAWAY asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. CONAWAY. Mr. Speaker, yesterday, from these microphones, there 
was more than one occasion when my colleagues would argue that somehow 
giving a bonus of $1 million to the business owner or a chief executive 
officer of a company would somehow go untaxed; that because the company 
got a tax deduction that that somehow spread the burden of that across 
all of America.
  What was left out of the conversation each and every time was the 
fact that the recipient of that bonus--this individual--actually puts 
that on their tax return and pays it at a much higher rate. In fact, 
that $1 million would probably be taxed at the 43 percent rate--or 
39.6, plus the add-ons that are in place.
  So, over and over again yesterday the American people were misled as 
to the consequences of getting bonuses or paying chief executive 
officers. It does not go untaxed simply because the company gets a tax 
deduction. That employee has to put that on their tax return and pay 
the appropriate taxes on that.
  I just wanted to set the record straight on yesterday's misguided 
comments with respect to how individuals who create businesses and grow 
those businesses are compensated, and the misinformation that that 
somehow is a negative impact on the rest of us.

                          ____________________