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Senators Jack Reed (D-R.I.) and Richard Blumenthal
(D-Conn.) have introduced a bill to finally enforce the $1 million limit on the tax deductibility of executive compensation.
Tell your Senators to support
the Stop Subsidizing Multimillion Dollar Corporate Bonuses Act.
Support The Stop Subsidizing Multimillion Dollar Corporate Bonuses Act (S. 1476)
As Congress looks for ways to restore crucial spending and close tax loopholes, the Stop Subsidizing Multimillion Dollar Corporate Bonuses Act (S. 1476) ought to be at the top of everybody's list.In 1993, Congress voted to put a $1 million limit on the tax deductibility of executive pay. Yet twenty years later, corporations continue to deduct immensely larger sums through a sham exemption for so-called "performance-based" pay. In other words, the rest of us are forced to subsidize multi-million dollar bonuses and stock options, which frequently have the perverse effect of encouraging executives to go for immediate profits or stock gains at the expense of the long-term health of their companies and the wider economy.I urge you to co-sponsor S. 1476. In the name of common sense and fiscal responsibility, please act now to close this unconscionable loophole and raise much-needed revenue.Thank you for your attention. I look forward to your reply.
Sincerely,[Your Name] [Your Address] [City, State ZIP]