Prohibiting Incentives for Corporations that Kickout Employees Tax (PICKET) Act

This bill amends the Internal Revenue Code to increase the corporate tax rate from 21% to 35% for corporations participating in a labor lockout during the taxable year. A "labor lockout" is a dispute involving a work stoppage, wherein an employer withholds work from its employees in order to gain a concession from them.

The bill also denies certain tax deductions and credits for remuneration (including wages or other benefits) paid by the taxpayer to a temporary replacement worker during a labor lockout.