Both sides have signed this (Bill Ranking)
S. 327 · 119th Congress (2025-2026)
2 members · Left 1 · Center 0 · Right 1 (Bill Ranking)
| Sponsor | Sen. Cortez Masto, Catherine (D-NV) (Introduced 01/30/2025) |
|---|---|
| Sponsor Voting Record | Lean left · DW-NOMINATE -0.35 · measured from every roll-call vote this member has cast (voteview.com) (Sponsor Ranking) |
| Support |
LLLCLRR support across the spectrum: 2 members signed on (Bill Ranking) this bill: sponsor + current cosponsors, each once |
| Committees | Senate - Finance Committee; Senate - Finance Committee |
| Latest Action | 03/16/2026 Held at the desk. |
| Roll Call Votes | There have been no roll call votes |
| Source | view on congress.gov → |
Introduced in Senate (01/30/2025)
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.
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).
119 S327 ES: Hindering Oppressive Nations from Obtaining Revenue Act U.S. Senate text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. 119th CONGRESS2d SessionS. 327IN THE SENATE OF THE UNITED STATESAN ACTTo amend the Internal Revenue Code of 1986 to deny any foreign tax credit or deduction with respect to taxes paid or accrued to the Russian Federation.1.Short titleThis Act may be cited as the Hindering Oppressive Nations from Obtaining Revenue Act or HONOR Act.2.Denial of foreign tax credit with respect to the Russian Federation(a)In generalSection 901(j)(2) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph:(C)Special rule for Russia(i)In generalThis subsection shall apply to the Russian Federation during the period described in clause (ii).(ii)Period of applicationThe period described in this clause with respect to any country is the period—(I)beginning on the date that is 30 days after the date of the enactment of this subparagraph, and(II)ending on the date on which the resumption of the application of the rates of duty set forth in column 1 of the Harmonized Tariff Schedule of the United States to products of that country takes effect pursuant to section 4(b) of the Suspending Normal Trade Relations with Russia and Belarus Act..(b)Deduction deniedSection 901(j)(3) of such Code is amended by adding at the end the following new sentence: The preceding sentence shall not apply to any tax of any country to which paragraph (2)(C) applies..(c)Effective dates(1)In generalExcept as provided in paragraph (2), the amendments made by this section shall take effect on the date of the enactment of this Act.(2)Deduction limitationThe amendment made by subsection (b) shall apply to taxes paid or accrued (or deemed paid or accrued under section 960 of the Internal Revenue Code of 1986) after the date that is 90 days after the date of the enactment of this Act.(3)Nonapplication of treaty rulesThis section and the amendments made by this section shall be applied without regard to any treaty obligation of the United States. Passed the Senate March 10, 2026.Secretary
119 S327 IS: Hindering Oppressive Nations from Obtaining Revenue Act U.S. Senate 2025-01-30 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. II119th CONGRESS1st SessionS. 327IN THE SENATE OF THE UNITED STATESJanuary 30, 2025Ms. Cortez Masto (for herself and Mr. Cornyn) introduced the following bill; which was read twice and referred to the Committee on FinanceA BILLTo amend the Internal Revenue Code of 1986 to deny any foreign tax credit or deduction with respect to taxes paid or accrued to the Russian Federation.1.Short titleThis Act may be cited as the Hindering Oppressive Nations from Obtaining Revenue Act or HONOR Act.2.Denial of foreign tax credit with respect to the Russian Federation(a)In generalSection 901(j)(2) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph:(C)Special rule for Russia(i)In generalThis subsection shall apply to the Russian Federation during the period described in clause (ii).(ii)Period of applicationThe period described in this clause with respect to any country is the period—(I)beginning on the date that is 30 days after the date of the enactment of this subparagraph, and(II)ending on the date on which the resumption of the application of the rates of duty set forth in column 1 of the Harmonized Tariff Schedule of the United States to products of that country takes effect pursuant to section 4(b) of the Suspending Normal Trade Relations with Russia and Belarus Act..(b)Deduction deniedSection 901(j)(3) of such Code is amended by adding at the end the following new sentence: The preceding sentence shall not apply to any tax of any country to which paragraph (2)(C) applies..(c)Effective dates(1)In generalExcept as provided in paragraph (2), the amendments made by this section shall take effect on the date of the enactment of this Act.(2)Deduction limitationThe amendment made by subsection (b) shall apply to taxes paid or accrued (or deemed paid or accrued under section 960 of the Internal Revenue Code of 1986) after the date that is 90 days after the date of the enactment of this Act.(3)Nonapplication of treaty rulesThis section and the amendments made by this section shall be applied without regard to any treaty obligation of the United States.
The bill's own words, from our database (synced from the GPO BILLS XML); paragraph breaks added at the bill's section boundaries, nothing else changed.
| Date | Chamber | All Actions |
|---|---|---|
| 01/30/2025 | Library of Congress | Introduced in Senate |
| 01/30/2025 | Senate | Read twice and referred to the Committee on Finance. |
| 03/10/2026 | Library of Congress | Senate Committee on Finance discharged by Unanimous Consent. |
| 03/10/2026 | Senate | Senate Committee on Finance discharged by Unanimous Consent. |
| 03/10/2026 | Library of Congress | Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent. |
| 03/10/2026 | Senate | Passed Senate without amendment by Unanimous Consent. (consideration: CR S953; text: CR S953) |
| 03/16/2026 | Senate | Message on Senate action sent to the House. |
| 03/16/2026 | House floor actions | Received in the House. |
| 03/16/2026 | House floor actions | Held at the desk. |
| Title Type | Title |
|---|---|
| Display Title | HONOR Act |
| Short Title(s) as Passed Senate | HONOR Act |
| Short Title(s) as Passed Senate | Hindering Oppressive Nations from Obtaining Revenue Act |
| Short Title(s) as Introduced | HONOR Act |
| Short Title(s) as Introduced | Hindering Oppressive Nations from Obtaining Revenue Act |
| Official Title as Introduced | A bill to amend the Internal Revenue Code of 1986 to deny any foreign tax credit or deduction with respect to taxes paid or accrued to the Russian Federation. |
There are no amendments to this bill.
* = Original cosponsor
| Committee | Activity |
|---|---|
| Senate - Finance Committee | 03/10/2026 Discharged From |
| Senate - Finance Committee | 01/30/2025 Referred To |
Policy Area: Taxation
All data on this page comes from our own database (legislation.congress_* tables), synced daily from the GPO govinfo BILLSTATUS and BILLS collections. Formatted after congress.gov; nothing is generated. Member placement is their DW-NOMINATE score (voteview.com, Lewis et al.) - a measurement of roll-call voting behavior, not our judgement. Buckets: Left below −0.50 · Lean Left to −0.25 · Center to +0.25 · Lean Right to +0.50 · Right above +0.50. The bill's Support meter aggregates the people who signed the bill - sponsor and current cosponsors, each counted once - nothing else.