CEO Accountability and Responsibility Act

The CEO Accountability and Responsibility Act would amend the Internal Revenue Code to adjust the federal income tax rate for publicly traded corporations based on the ratio of their highest-paid employee’s compensation to the median compensation of all employees, with higher pay gaps leading to higher tax rates. It also establishes a federal contracting preference for entities with a compensation ratio below 50-to-1. The bill affects publicly traded corporations and federal contractors, requiring them to report compensation data to the Treasury Secretary and potentially face increased taxes if they reduce U.S. full-time staff while increasing contracted or foreign workers.

No official summary is available here. This one was written by AI from the bill’s text.