Stock Buybacks Excise Tax of 2% Offered by Senate Democrats

Senators Sherrod Brown, Ron Wyden unveil legislation to assess a two percent excise tax on the amount spent by a publicly-traded company on buying back its own stock, according to press release.

• Tax would help reinvest in the economy, while also preventing abuse and reducing tax avoidance, both of which are significant risks from stock buybacks, senators say

To contact the reporter on this story:
Kasia Klimasinska in Washington at kklimasinska@bloomberg.net

To contact the editor responsible for this story:
Kasia Klimasinska at kklimasinska@bloomberg.net

© 2021 Bloomberg L.P. All rights reserved. Used with permission.