[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 515 Introduced in House (IH)]

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118th CONGRESS
  1st Session
                                H. R. 515

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


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                    IN THE HOUSE OF REPRESENTATIVES

                            January 25, 2023

 Mr. Kustoff (for himself, Mr. LaHood, and Mr. Schweikert) introduced 
  the following bill; which was referred to the Committee on Ways and 
                                 Means

_______________________________________________________________________

                                 A BILL


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

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 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.--Chapter 37 of the Internal Revenue Code of 1986 is 
repealed.
    (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, 2022.
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