Congress·In Committee·H.R. 9764

HONOR Act

Russia: Ending Foreign Tax Credits

To amend the Internal Revenue Code of 1986 to deny any foreign tax credit with respect to taxes paid or accrued to the Russian Federation.

Jul 16·View on Congress.gov·Read full text

Next up: A house committee

A house committee must act next: committee consideration.

Legislative Progress

House

Senate

President

Law

Could go either way

This bill has support from both parties and fits with current foreign policy goals, but many tax bills struggle to get a final vote in a busy Congress.

Key Points

The HONOR Act would stop U.S. companies and individuals from getting a tax break for taxes they pay to the Russian government.
Usually, Americans doing business abroad can subtract foreign taxes from their U.S. tax bill so they do not pay twice. This bill removes that benefit for any money paid to Russia.
The plan aims to discourage U.S. business activity in Russia by making it more expensive to operate there.
The new rule would begin 30 days after the bill passes and would last until the U.S. decides to return to normal trade relations with Russia.
This change would take effect even if it conflicts with existing tax agreements between the two countries.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.

Milestones

2 milestones2 actions

Jul 16, 2026House

Referred to the House Committee on Ways and Means.

Jul 16, 2026

Introduced in House

The bill was officially filed and given a number. It now enters the legislative queue.

No votes or news coverage recorded for this bill yet.

Source Information

Document Type

Congressional Bill

Official Title

To amend the Internal Revenue Code of 1986 to deny any foreign tax credit with respect to taxes paid or accrued to the Russian Federation.

Bill NumberHR 9764

Congress119th Congress

ChamberHouse of Representatives

Latest ActionReferred to the House Committee on Ways and Means.

Data Sources

Congress.gov

Official legislative information

Read Full Bill Text

Sponsor

Cosponsors

(1)

R: 1

Analysis generated by AI. Always verify with official sources.