electED.

HR 9764 · 119th Congress — HONOR Act

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…

Congress
119
Bill
HR 9764
Status
Introduced
Introduced
2026-07-16
Latest action date
2026-07-16

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. Right now, the latest action is: Sent to the House Ways and Means Committee. The listed sponsor is Rep. Schneider, Bradley Scott [D-IL-10] [D].

This summary may describe an earlier version. Check the official record for current wording.

Latest action

Referred to the House Committee on Ways and Means.

Sponsors

Sources