Statement by National Economic Advisor Lael Brainard on the Proposed Regulations Implementing President Biden's Stock Buyback Tax

The Trump tax cuts' giveaways to large corporations led to record high stock buybacks. President Biden's stock buyback tax will encourage companies to invest in workers and the U.S. economy, rather than paying out stock buybacks to wealthy investors, and make corporations pay more of their fair share. The Treasury Department's proposed regulations are a key step toward implementing President Biden's tax fairness agenda.