Limits on deducting executive pay over $1 million would expand for companies.
This bill would expand the rules that stop publicly traded companies from deducting executive pay over $1 million from their taxes. This means more companies and a wider group of high-paid people, including some former executives, would face these limits. The goal is to reduce tax breaks for large executive bonuses, starting with taxable years after December 31, 2024.
Today, publicly held corporations cannot deduct pay over $1 million for a small, specific group of their top current executives. After this bill, companies would not be able to deduct pay over $1 million for a much larger group of current and some past executives. Also, more types of publicly held corporations would be subject to these rules. These changes would take effect for taxable years starting after December 31, 2024.
HR 3140 · 119th Congress · May 1, 2025 · AI Summary by gemini-2.5-flash · 8/10
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4 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.