PlainBillCongress, translated.Legislation. Context. Public interest.Congressional Research Service
Version 00 · Introduced in Senate · Jan 30, 2025
Hindering Oppressive Nations from Obtaining Revenue Act or HONOR Act
This bill prohibits a taxpayer from claiming the foreign tax credit (FTC) or an itemized tax deduction 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) or an itemized tax deduction for such taxes, both subject to limitations.
Showing the opening paragraphs of the official summary.
However, under current law, a taxpayer may not claim the FTC (but may claim an itemized tax deduction) 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).
The bill also disallows an itemized tax deduction for taxes paid, accrued, or deemed to be paid to Russia (effective 90 days after the date of enactment).
People & committees
Sen. Cortez Masto, Catherine [D-NV] · D–NV
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Held at the desk.
Received in the House.
Message on Senate action sent to the House.
Passed Senate without amendment by Unanimous Consent. (consideration: CR S953; text: CR S953)
Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.
Senate Committee on Finance discharged by Unanimous Consent.
Senate Committee on Finance discharged by Unanimous Consent.
Read twice and referred to the Committee on Finance.
Introduced in Senate
Primary sources
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Source last updated: Aug 1, 2026. Consult Congress.gov for the current record.
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