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H.R. 9764: HONOR Act
119th Congress · introduced 2026-07-16 · Taxation · Latest: Referred to the House Committee on Ways and Means.
federal
Official title
HONOR Act
Plain summary
Hindering Oppressive Nations from Obtaining Revenue Act or HONOR Act This bill prohibits a taxpayer from claiming the foreign tax credit (FTC) for taxes paid, accrued, or deemed paid to Russia. Under current law, a taxpayer may claim the FTC for income, war profits, and excess profits taxes (or taxes imposed in lieu of these taxes) paid, accrued, or deemed paid to a foreign country (and certain U.S. possessions), subject to limitations. However, under current law, a taxpayer may not claim the FTC for taxes paid to a foreign country if (1) the United States does not recognize the country’s government, (2) the United States severs or does not conduct diplomatic relations with the country, or (3) the country is designated by the Department of State as supporting international terrorist acts. (Currently, the FTC is disallowed for taxes paid, accrued, or deemed paid to Iran, North Korea, Sudan, and Syria.) Under the bill, a taxpayer may not claim the FTC for taxes paid, accrued, or deemed paid to Russia beginning 30 days after the date of enactment and until normal U.S. trade relations with Russia are restored (pursuant to requirements established by the Suspending Normal Trade Relations with Russia and Belarus Act).
Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.
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Officials and money
Sponsor: Rep. Schneider, Bradley Scott [D-IL-10] · 1 cosponsors
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Words on this page, explained (1)
- Bill
- A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
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Sources
- Congressional Research Service summary (Introduced in House)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-119hr9764.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/119/hr>
Record fed-us-cong119-hr9764 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills