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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.)
Introduced
Jan 23, 2025
Last Action
Jan 23, 2025
Session
119th Congress
Sponsors
1 primary · 0 co
Passage Probability
2% — Very Low
Introduced in House
Referred to the House Committee on Ways and Means.
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2%
Estimate based on legislative signals
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Upgrade to ProReferred to the House Committee on Ways and Means.