United States · Bill · HR
H.R. 684 (119th)
Protecting American Savers and Retirees Act
Introduced
23 January 2025
Last action
—
Status
Referred to the House Committee on Ways and Means.
Sponsors
—
Subjects
Discovery layer
Source updated
22 April 2025
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.)
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Documents
2 official files
Introduced in House
Introduced in House
Introduced in House · EN · 23 January 2025
Introduced in House
summary · EN · 23 January 2025
Sponsors
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Sources
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- Official source: https://www.congress.gov/bill/119th-congress/house-bill/684
- Open data entity: https://api.congress.gov/v3/bill/119/hr/684