HR 684 ยท Protecting American Savers and Retirees Act
Referred to the House Committee on Ways and Means.
- Introduced
- Jan 23, 2025
- Latest action
- Jan 23, 2025
- Sponsor
- Rep. David Kustoff [R-TN-8]
- Policy area
- Taxation
- Cosponsors
- 0
Summary
Protecting American Savers and Retirees Act This bill repeals the excise tax on the repurchase of corporate stock (commonly known as a stock buyback) enacted by the Inflation Reduction Act of 2022. Under current law, a domestic corporation whose stock is traded on an established securities market (e.g., the New York Stock Exchange or NASDAQ) is required to pay an excise tax (that is not deductible) on the repurchase of its stock in the amount of 1% of the fair market value of such stock. (Some exceptions apply.)
Recent actions
- Jan 23, 2025 Referred to the House Committee on Ways and Means.
- Jan 23, 2025 Introduced in House
- Jan 23, 2025 Introduced in House
Votes
No recorded votes are available for this bill.