H. R. 515
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
To amend the Internal Revenue Code of 1986 to repeal the excise tax on repurchase of corporate stock.
This Act may be cited as the
Protecting American Savers and Retirees Act.
Repeal of excise tax on repurchase of corporate stock
Chapter 37 of the Internal Revenue Code of 1986 is repealed.
The table of chapters for subtitle D is amended by striking the item relating to chapter 37.
The amendment made by this section shall apply to taxable years beginning after December 31, 2022.