Taxpayer Accountability for Airlines Relief Act

Bill: 116-hr-6479
Sponsor: full_name: Rep. Burchett, Tim [R-TN-2]
Introduced: 2020-04-10
Policy area: Transportation and Public Works
Subjects: Aviation and airports

Cardiovascular and respiratory health

Corporate finance and management

Emergency medical services and trauma care

Government lending and loan guarantees

Infectious and parasitic diseases

Transportation employees

Transportation programs funding

Wages and earnings
Latest action: action_date: 2020-04-13
text: Referred to the Subcommittee on Aviation.

Summaries:
action_date: 2020-04-10
action_desc: Introduced in House
text: <p><b>Taxpayer Accountability for Airlines Relief Act</b></p> <p>This bill requires air carriers receiving federal loans under the Coronavirus Aid, Relief, and Economic Security Act due to COVID-19 (i.e., coronavirus disease 2019) to limit compensation of certain executives until the air carrier repays such loans. </p> <p>Specifically, the bill prohibits such air carriers from paying its executives who earned a compensation of more than $425,00 in 2019 a salary that is greater than their 2019 salary.</p>

tv_txt: I 116th CONGRESS 2d Session H. R. 6479 IN THE HOUSE OF REPRESENTATIVES April 10, 2020 Mr. Burchett introduced the following bill; which was referred to the Committee on Transportation and Infrastructure A BILL To require air carriers receiving Federal loans under the Coronavirus Aid, Relief, and Economic Security Act to limit compensation paid to each executive to the amount of such executive’s 2019 salary until such loans are repaid, and for other purposes.

1. Short title This Act may be cited as the Taxpayer Accountability for Airlines Relief Act . 2. Limitation on compensation to air carrier executives (a) In general With respect to an air carrier receiving a Federal loan under the Coronavirus Aid, Relief, and Economic Security Act, until such time as the air carrier repays all of such loan, the air carrier may only pay compensation to an executive of the air carrier in an amount equal to or less than the amount of salary paid to the executive in 2019. (b) Definitions In this section: (1) Air carrier The term air carrier has the meaning such term has under section 40102 of title 49, United States Code. (2) Executive With respect to an air carrier, the term executive means an employee of the air carrier whose total compensation exceeded $425,000 in calendar year 2019. For purposes of this paragraph, for an employee hired after January 1, 2019, the annualized salary of such employee for calendar year 2019 shall be used instead of the actual salary of the employee.