3.0.0 684 2025-04-22T14:25:48Z 2025-04-22T14:25:48Z House H HR 2025-01-23 119 <pre>[Congressional Record Volume 171, Number 14 (Thursday, January 23, 2025)][House]From the Congressional Record Online through the Government Publishing Office [<a href="https://www.gpo.gov">www.gpo.gov</a>]By Mr. KUSTOFF:H.R. 684.Congress has the power to enact this legislation pursuantto the following:Under Article 1, Section 8, the Necessary and ProperClause. Congress shall have power to make all laws whichshall be necessary and proper for carrying into Execution theforegoing powers and all Powers vested by this Constitutionin the Government of the United States, or in any Departmentof Officer thereof.[Page H388]</pre> hswm00 Ways and Means Committee House Standing Referred To 2025-01-23T15:04:15Z 2025-01-23 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2025-01-23 Introduced in House IntroReferral Intro-H 9 Library of Congress 2025-01-23 Introduced in House IntroReferral 1000 9 Library of Congress K000392 Rep. Kustoff, David [R-TN-8] David Kustoff R TN 8 N Taxation Taxation 2025-02-25T20:46:03Z

00 2025-01-23 Introduced in House 2025-04-22T14:21:22Z <p><strong>Protecting American Savers and Retirees Act </strong></p><p>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.</p><p>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.)</p>

Display Title 45 2025-02-22T08:08:23Z Short Title(s) as Introduced 101 2025-02-22T08:08:18Z Introduced in House IH Official Title as Introduced 6 2025-02-22T08:03:45Z Introduced in House IH Introduced in House 2025-01-23T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-119hr684ih/xml/BILLS-119hr684ih.xml 2025-01-23 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.