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H.R. 684 119th Congress House

Protecting American Savers and Retirees Act

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

Introduced: January 23, 2025 Introduced by: David Kustoff Republican · Tennessee See on congress.gov
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 23, 2025
Referred to the House Committee on Ways and Means.
Jan 23, 2025
Introduced in House
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What's happening now January 23, 2025

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

Protecting American Savers and Retirees Act

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.

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.)

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Lobbying activity 16

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

Bodies those filers lobbied

A filing lists the bills it worked on and the parts of government it contacted in separate sections, so these are the bodies those filers named anywhere in the filing, not a per-bill breakdown.

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APA
U.S. Congress. (2026). H.R. 684: Protecting American Savers and Retirees Act. 119th Congress. Open America. https://openamerica.io/bill/119-HR-684/
MLA
"H.R. 684: Protecting American Savers and Retirees Act." 119th Congress, 2026, Open America, https://openamerica.io/bill/119-HR-684/.
Bluebook (legal)
H.R. 684, 119th Cong. (2026), https://openamerica.io/bill/119-HR-684/.
Markdown link
[H.R. 684: Protecting American Savers and Retirees Act](https://openamerica.io/bill/119-HR-684/)
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