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Protecting Savings and Retirees: Repealing Stock Buyback Tax

This legal act aims to remove a new tax on corporate stock repurchases that was previously introduced. This means companies will not have to pay an additional fee for buying back their own shares, which may influence their investment decisions and financial strategies. For citizens who invest in stocks or have retirement savings linked to the capital market, this could mean more stable investment conditions.
Key points
The act repeals the excise tax on corporate stock repurchases that was set to take effect.
This change is retroactive, as if it were included in the original Inflation Reduction Act.
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Expired
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Additional Information
Print number: 117_HR_8853
Sponsor: Rep. Kustoff, David [R-TN-8]
Process start date: 2022-09-15
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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 American Savers and Retirees Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_8853.

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 2022-09-15.

What are the main provisions?

Key points include:

  • The act repeals the excise tax on corporate stock repurchases that was set to take effect.
  • This change is retroactive, as if it were included in the original Inflation Reduction Act.
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. Kustoff, David [R-TN-8].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Taxes Economy