Senate Bill Would Curtail Executive Compensation Tax Deductions

Executive compensation is under fire in a proposed Senate bill that would significantly limit deductibility of C-Suite paychecks over $1 million. The bill, floated in August by Sens. Jack Reed (D-R.I.) and Richard Blumenthal (D-Conn.), would essentially eliminate all tax deductions for compensation over $1 million paid by publicly held companies to both current and former employees.