PlainBillCongress, translated.Legislation. Context. Public interest.Congressional Research Service
Version 00 · Introduced in House · Jul 31, 2009
Recoupment of Wall Street Bonus Act - Imposes an additional income tax on bonuses paid to employees or former employees of covered Troubled Asset Relief Program (TARP) recipients. Defines "covered TARP recipient" to include: (1) entities and their affiliates that received capital infusions under the Emergency Economic Stabilization Act of 2008 exceeding $5 billion; and (2) the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). Exempts entities that repay TARP amounts exceeding a $5 billion threshold.
Sets the rate of such tax at 100% of the lesser of: (1) the bonus amounts paid; or (2) the amount of such taxpayer's adjusted gross income exceeding $250,000 ($125,000 in the case of a married individual filing a separate return). Exempts any employee who irrevocably waives or returns a bonus payment before the close of the taxable year in which such payment is due.
Requires tax revenues generated by this Act to be paid to the Department of Housing and Urban Development (HUD) to fund community development programs.
People & committees
Rep. Kaptur, Marcy [D-OH-9] · D–OH
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Referred to House Financial Services
Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to House Ways and Means
Sponsor introductory remarks on measure. (CR H9249)
Introduced in House
Introduced in House
Primary sources
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Source last updated: Nov 28, 2025. Consult Congress.gov for the current record.
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