Stock Buyback Tax Repeal Effort Renewed by House Republicans (1)

Democrats’ levy on stock buybacks would be repealed under revived legislation from key House Republicans, who are looking to undo major portions of the Biden era in a larger change to the tax code.

Rep. David Kustoff (R-Tenn.) introduced legislation Thursday that would repeal the 1% excise tax on the fair market value of any stock repurchase in a tax year by publicly traded companies.

Kustoff and other members of the tax-writing Ways and Means Committee put forward similar legislation in 2023 to repeal the excise tax that was created in the 2022 tax-and-climate law known as the Inflation Reduction ...