HONOR Act Hindering Oppressive Nations from Obtaining Revenue...
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.
This bill proposes to change the Internal Revenue Code to prevent U.S. taxpayers from claiming a credit for taxes paid to the Russian Federation. This means if someone pays taxes in Russia, they cannot use those payments to reduce their U.S. tax bill. The bill affects U.S. companies and individuals who pay taxes in Russia and benefit from foreign tax credits.
The bill was introduced on July 16, 2026, and was referred to the House Committee on Ways and Means. This committee will review the bill and decide whether to move it forward for further consideration. Currently, it is at the initial stage of being introduced and referred for review.
Key actions so far include the introduction of the bill and its referral to the relevant committee. The bill has not yet been scheduled for a committee hearing or vote. The bill’s progress will be monitored closely as it moves through the legislative process.
