The Inflation Reduction Act includes a 1% Stock Buybacks Tax!

Corporate executives spent $881 billion last year alone using this trick to inflate stock prices and CEO pay, instead of investing in workers, wages, and innovation. The result increases the racial wealth gap while doing nothing to add real value to the company. It’s a trick Wall Street loves for juicing the stock market.

A Stock Buybacks Tax will disincentivize stock buybacks for even happening, and when corporations still do it, this tax will make sure working families get some benefits from it through increased funding for fighting climate change and expanding healthcare nationwide.

Write your Senators! Tell them to pass the Inflation Reduction Act with the Stock Buyback Tax.

https://ourfinancialsecurity.org/?link_id=4&can_id=96ca627017cea4c6d1a6cc2480b3c1bd&source=email-re-stock-buybacks-tax-is-a-big-win-now-make-sure-it-happens&email_referrer=email_1627099&email_subject=re-stock-buybacks-tax-is-a-big-win-now-make-sure-it-happens

markansas

Overall, the bill is a very scaled-down solution to what many Democrats, including President Biden, had asked for originally.
https://www.npr.org/2022/08/07/1116190180/democrats-are-set-to-pass-a-major-climate-health-and-tax-bill-heres-whats-in-it
"This bill is far from perfect. It's a compromise. But it's often how progress is made," Biden said at the White House last month. "My message to Congress is this: This is the strongest bill you can pass."