H.R. 9764 · Where this bill is now
In committee
Introduced in the House, sent to the Committee on Ways and Means, Jul 16, 2026
What this bill does
In plain words · AI-written from the official summaryBars tax credits for Russia payments
Right now, when Americans pay taxes to a foreign country, they can usually claim a credit (a reduction) on their U.S. taxes to avoid paying twice. This bill would block that credit specifically for taxes paid to Russia. The ban would start 30 days after the bill becomes law and stay in place until the U.S. restores normal trade relations with Russia.
How it affects you
This mainly affects businesses and individuals who earn income in Russia and owe Russian taxes. Instead of reducing their U.S. tax bill for what they paid to Russia, they would owe the full amount to the U.S. government on top of what they already paid to Russia.
Read the official summary (Introduced in House, Jul 16, 2026)
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).
Written by AI (Claude) using only the official summary by the Congressional Research Service, the Library of Congress’s nonpartisan research staff. It can miss nuance, so check the official summary and the bill text for details.
2nd SessionH. R. 9764
A BILL
HONOR Act
Sponsor: Rep. Bradley Scott Schneider (D-IL-10) · Introduced Jul 16, 2026 · Taxation · 1 version of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Jul 16, 2026: “Referred to the House Committee on Ways and Means.”