Protecting American Savers and Retirees Act

This legislation proposes to repeal the excise tax on the repurchase of corporate stock , a tax currently codified under Chapter 37 of the Internal Revenue Code of 1986. By eliminating this chapter, the bill seeks to remove the financial levy on companies buying back their own shares. The measure also includes a clerical amendment to update the table of chapters in subtitle D of the Internal Revenue Code. If enacted, these changes would apply to taxable years beginning after December 31, 2024 , thereby affecting corporate stock repurchases from that point forward.