summary
Introduced
02/14/2023
02/14/2023
In Committee
02/14/2023
02/14/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A bill to amend the Internal Revenue Code of 1986 to increase the rate of the excise tax on the repurchase of corporate stock, and for other purposes.
AI Summary
This bill, the Stock Buyback Accountability Act of 2023, aims to amend the Internal Revenue Code of 1986 to increase the excise tax rate on the repurchase of corporate stock from 1% to 4%. It also modifies the adjustments to this tax, exempting stock issued to covered employees (as defined in the tax code) from the fair market value calculation. These changes would apply to stock repurchases and issuances occurring after the enactment of the bill.
Committee Categories
Budget and Finance
Sponsors (10)
Sherrod Brown (D)*,
Tammy Baldwin (D),
John Fetterman (D),
Ben Ray Luján (D),
Ed Markey (D),
Jack Reed (D),
Brian Schatz (D),
Chris Van Hollen (D),
Sheldon Whitehouse (D),
Ron Wyden (D),
Last Action
Read twice and referred to the Committee on Finance. (on 02/14/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/senate-bill/413/all-info |
| BillText | https://www.congress.gov/118/bills/s413/BILLS-118s413is.pdf |
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