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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.
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Status:
Expired
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Additional Information
Protecting Retirement Savers and Everyday Investors Act
Print number: HR 1584
Sponsor: Rep. McHenry, Patrick T. [R-NC-10]
Process start date: 2021-03-03
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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Summary & Status

Key Questions about Protecting Retirement Savings: Limiting Securities Transaction Taxes

A structured overview of the legislative process, official sources, status and civic context.

What is the official ID of this bill?

The official print number for this legislation is 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.

Analysis and Potential Impact of HR 1584

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

CATEGORIES

Taxes Economy