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

Hozzl · 2025-01-24T09:20:41Z

Explore the details of House Bill 684 To amend the Internal Revenue Code of 1986 to repeal the excise tax on repurchase of corporate stock. currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on undefined. Stay informed on legislative developments.

1/24/2025, 9:20 AM

Summary of Bill HR 684

Bill 119 HR 684, also known as the "Repeal of Excise Tax on Stock Repurchases Act," aims to make changes to the Internal Revenue Code of 1986 by eliminating the excise tax that is currently imposed on corporations when they repurchase their own stock.

The excise tax on stock repurchases was originally implemented as a way to discourage corporations from using their profits to buy back their own stock, rather than investing in their employees or business operations. However, proponents of Bill 119 HR 684 argue that this tax is burdensome and ultimately hinders economic growth.

If this bill is passed, corporations would no longer be subject to the excise tax on stock repurchases, allowing them more flexibility in how they choose to allocate their profits. This could potentially lead to an increase in stock buybacks, which some believe could benefit shareholders and boost the overall economy. Opponents of the bill, on the other hand, argue that repealing the excise tax on stock repurchases could further exacerbate income inequality by disproportionately benefiting wealthy shareholders and corporate executives. Overall, Bill 119 HR 684 is a contentious piece of legislation that has the potential to have significant implications for corporations, shareholders, and the economy as a whole. It will be important to closely monitor the progress of this bill and consider the various arguments for and against its passage.

Current Status of Bill HR 684

Bill HR 684 is currently in the status of Bill Introduced since January 23, 2025. Bill HR 684 was introduced during Congress 119 and was introduced to the House on January 23, 2025. Bill HR 684's most recent activity was Referred to the House Committee on Ways and Means. as of January 23, 2025

Bipartisan Support of Bill HR 684

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 684

Primary Policy Focus

Alternate Title(s) of Bill HR 684

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

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Sponsors and Cosponsors of HR 684

David Kustoff

Tennessee(Republican)

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