CONGRESS FOR VOTERS

DemocratBill · H.R. 9764· House(119-HR-9764)

HONOR Act

Rep. Schneider
Age: 65 years
Illinois
Introduced
7/16/2026
Last activity
7/16/2026 — Referred to the House Committee on Ways and Means.
Sponsored by
Bradley Schneider
Cosponsors
Democrat - 0Republican - 1
Taxation
  1. Introduced
  2. In Committee

What this bill would do

This bill, titled the "Hindering Oppressive Nations from Obtaining Revenue Act" or "HONOR Act," seeks to amend the Internal Revenue Code of 1986. It aims to deny any foreign tax credit for taxes paid or accrued to the Russian Federation. The rule applies for a specific period starting 30 days after the amendment's enactment. This period ends when certain rates of duty for Russian products resume under a specific previous Act. The changes take effect on the date the Act is enacted.

Yes

  • Does this raise the taxes companies pay?+5

    The bill increases the effective tax burden on companies with operations or income subject to Russian taxation by denying them foreign tax credits.

  • Does this strengthen ties with allied countries?+3

    The bill uses economic leverage to implement foreign policy objectives against the Russian Federation.

  • Does this make the government pay for what it commits to?+2

    The bill prevents the loss of federal revenue by denying tax credits that would otherwise reduce the amount of tax owed to the US government.

The opposite

  • Would business owners be better off under this?-4

    Business owners with significant Russian-related tax liabilities will face higher domestic tax costs due to the denial of credits.

  • Does this make trade with other countries easier?-3

    The bill imposes stricter tax rules on trade-related income involving the Russian Federation.