HONOR Act

This bill would stop U.S. taxpayers from getting a tax break for taxes they pay to Russia. Right now, people and businesses that pay taxes to a foreign country can usually reduce what they owe in U.S. taxes by claiming a "foreign tax credit," but this credit is already blocked for countries like Iran, North Korea, Sudan, and Syria. This bill would add Russia to that list, starting 30 days after the bill becomes law, and the restriction would stay in place until normal trade relations between the U.S. and Russia are restored.

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