Congressional Bill Intelligence Brief

Official congressional activity: S 327

HONOR Act

Summary

Hindering Oppressive Nations from Obtaining Revenue Act or HONOR ActThis 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…

Intelligence context

• Congress: 119
• Activity date: 2026-03-16
• Related member activity: Catherine Cortez Masto — Sponsor
• Matched terms: Syria
• Matched groups: Syria & Middle East
• Match confidence: High · Score 100

Why this was flagged

Simple Syria scanner: official congressional record contains Syria in crs_summary, summary_feed_text.

Official Congress.gov source

This update was generated from official congressional activity and requires editorial review before publication.