CONGRESS FOR VOTERS

DemocratBill · S. 327· Senate(119-S-327)

HONOR Act

Rep. Cortez Masto
Age: 62 years
Nevada
Introduced
1/30/2025
Last activity
3/16/2026 — Held at the desk.
Sponsored by
Catherine Cortez Masto
Cosponsors
Democrat - 0Republican - 1
Taxation
  1. Introduced
  2. Passed Senate
  3. Awaiting House

What this bill would do

This bill, known as 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 or deduction for taxes paid or accrued to the Russian Federation. The rule begins 30 days after the act is enacted. It remains in effect until the date that the application of specific rates of duty for products from that country resumes under a previous act.

Yes

  • Does this raise the taxes companies pay?+5

    The bill increases the tax burden on companies by denying them foreign tax credits for taxes paid to the Russian Federation.

  • Does this strengthen ties with allied countries?+3

    The bill uses economic and tax pressure to target the Russian Federation, aligning with broader geopolitical strategies.

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

    The bill aims to prevent revenue from flowing to a foreign adversary through the denial of tax deductions.

The opposite

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

    Businesses with operations or tax liabilities in Russia will face higher effective tax rates due to the loss of credits.

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

    The bill imposes stricter trade-related tax penalties on transactions involving the Russian Federation.