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H.R. 684 — Protecting American Savers and Retirees Act — Project Euthyna

The public record · 119th Congress

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.)

Other titles

the names this measure carries besides the one at the top of this page, each with the record's own label for it. The collection includes titles given to parts of a bill as well as to the whole.

To amend the Internal Revenue Code of 1986 to repeal the excise tax on repurchase of corporate stock.Official Title as Introduced

Protecting American Savers and Retirees ActShort Title(s) as Introduced

Legislative history

H.R. 684·House·Bill·Taxation

Rep. David Kustoff(Republican-Tennessee-8)

Jan 23, 2025

IntroducedIntroduced in House

Jan 23, 2025

HouseReferred to the House Committee on Ways and Means.

Documents

Everything Congress printed about this measure. A bill is reprinted each time it changes, the Congressional Research Service summarizes each version, and the committee that reports a bill files its own written account of it.

Bill text

Jan 23, 2025As introduced in the House

Plain-language summaries

Jan 23, 2025Introduced in House

Where it stands

In committee — the House

On the floor — the House

In committee — the Senate

On the floor — the Senate

Resolving differences

With the President

Became law

Path for a House bill