I
119THCONGRESS
1
STSESSION H. R. 684
To amend the Internal Revenue Code of 1986 to repeal the excise tax
on repurchase of corporate stock.
IN THE HOUSE OF REPRESENTATIVES
JANUARY23, 2025
Mr. K
USTOFFintroduced 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 Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE. 3
This Act may be cited as the ‘‘Protecting American 4
Savers and Retirees Act’’. 5
SEC. 2. REPEAL OF EXCISE TAX ON REPURCHASE OF COR-6
PORATE STOCK. 7
(a) I
NGENERAL.—Chapter 37 of the Internal Rev-8
enue Code of 1986 is repealed. 9
VerDate Sep 11 2014 23:18 Feb 19, 2025 Jkt 059200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H684.IH H684
kjohnson on DSK7ZCZBW3PROD with $$_JOB 2
•HR 684 IH
(b) CLERICALAMENDMENT.—The table of chapters 1
for subtitle D is amended by striking the item relating 2
to chapter 37. 3
(c) E
FFECTIVEDATE.—The amendment made by 4
this section shall apply to taxable years beginning after 5
December 31, 2024. 6
Æ
VerDate Sep 11 2014 23:18 Feb 19, 2025 Jkt 059200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H684.IH H684
kjohnson on DSK7ZCZBW3PROD with $$_JOB