H.R. 684
119th CONGRESS 1st Session
To amend the Internal Revenue Code of 1986 to repeal the excise tax on repurchase of corporate stock.
IN THE HOUSE OF REPRESENTATIVES · January 23, 2025 · Sponsor: Mr. Kustoff · Committee: Committee on Ways and Means
Table of contents
SEC. 1. Short title
- This Act may be cited as the Protecting American Savers and Retirees Act.
SEC. 2. Repeal of excise tax on repurchase of corporate stock
- (a) In general
- of the Internal Revenue Code of 1986 is repealed. Chapter 37
- (b) Clerical amendment
- The table of chapters for subtitle D is amended by striking the item relating to chapter 37.
- (c) Effective date
- The amendment made by this section shall apply to taxable years beginning after December 31, 2024.