H.R. 9764 Introduced Taxation

HONOR Act

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.

  1. Introduced
  2. Committee
  3. Passed House
  4. Passed Senate
  5. To President
  6. Became law
Sponsor Rep. Schneider, Bradley Scott [D-IL-10] Introduced July 16, 2026 Cosponsors 1 (1 R) Latest action July 16, 2026

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).

Summary by the Congressional Research Service, Library of Congress.

Congress.gov

Actions

  1. Jul 16, 2026 Referred to the House Committee on Ways and Means.
  2. Jul 16, 2026 Introduced in House

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