Consequences of 1% Tax on Stock Buybacks?

I’m sure a lot of people in this group heard about the 1% tax coming on stock buybacks due to the Inflation Reduction Act. What’s everyone’s opinion on this? Will this lead to a decline in stock prices? Or prior to this taking effect, will corporations rush into buybacks to inflate their stock prices? Perhaps dividends becoming more common? Or better yet, maybe 1% isn’t significant enough at all to have any major side effects? Still trying to read into opinions on both sides of this.