Stock Buyback Accountability Act of 2023

This bill increases the tax rate on corporate stock buybacks from 1% to 4% for companies purchasing their own shares. It also creates an exception for stock issued to certain covered employees (like executives under existing compensation rules), meaning those shares wouldn't count toward the tax. The tax hike applies to buybacks occurring after the bill's enactment date, while the employee stock exception applies to stock issued after enactment. The bill directly affects corporations that repurchase shares, particularly those with executive compensation plans involving stock grants.