Kyrsten Sinema wants to snuff out stock buybacks by adding an excise tax. Here’s why that would hurt regular shareholders

The compromise that the Senator Kyrsten Sinema (D-AZ) forged with fellow Democrats to clear passage for the Inflation Reduction Act of 2022 includes a pivotal provision that could upend the way companies are run, and how they reward the 53% of America’s families that own stock. To pledge her vote, Sinema demanded that the bill include a 1% excise tax on share repurchases that now reign as far and away the top vehicle for returning cash to equity investors. READ MORE