- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
Committee on Small BusinessCommittee on Ways and MeansIntroducedDecember 19th, 2009
- house Committees
Bill DetailsOfficial information provided by the Congressional Research Service. Learn more or make a suggestion.
The Congressional Research Service writes summaries for most legislation. These summaries are listed here. Countable will update some legislation with a revised summary, title or other key elements.
Wall Street Bonus Tax Act
To amend the Internal Revenue Code of 1986 to impose a 50 percent tax on bonuses paid by TARP recipients.
Wall Street Bonus Tax Act - Amends the Internal Revenue Code to: (1) impose an excise tax on 50% of any bonus exceeding $50,000 paid during 2010 by a recipient of financial assistance under the Troubled Asset Relief Program (TARP) to a current or former employee; and (2) establish in the Treasury the Small Business Growth Fund to hold revenues from such tax. Requires the Administrator of the Small Business Administration (SBA) to establish and carry out a program to make loans directly to small business concerns. Makes amounts from such Fund available to carry out such program.