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Protecting Retirement Savings: Limiting Securities Transaction Taxes

This act aims to protect retirement savings and investments by limiting the ability of states and local governments to impose new taxes on securities market transactions. This could keep investment costs, including those for retirement funds, lower, potentially increasing the value of citizens' savings. The act seeks to prevent an increase in fees that could burden every investor in the U.S.
Key points
Prohibits states and local governments from imposing new taxes based on the number, volume, or value of securities transactions.
Aims to keep investment costs low, protecting retirement savings and other citizen investments.
Exception: States can tax transactions by individuals and businesses not part of the national market system and domiciled within that state.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_HR_1584
Sponsor: Rep. McHenry, Patrick T. [R-NC-10]
Process start date: 2021-03-03
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Protecting Retirement Savers and Everyday Investors Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_1584.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-03-03.

What are the main provisions?

Key points include:

  • Prohibits states and local governments from imposing new taxes based on the number, volume, or value of securities transactions.
  • Aims to keep investment costs low, protecting retirement savings and other citizen investments.
  • Exception: States can tax transactions by individuals and businesses not part of the national market system and domiciled within that state.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. McHenry, Patrick T. [R-NC-10].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Taxes Economy