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Support Ukraine: Tax Code Changes for Entities Linked to Russia and Belarus

This act aims to deny certain tax benefits to companies and individuals connected with Russia and Belarus. This means these entities will not be able to claim tax credits for taxes paid in those countries, increasing economic pressure. It also includes transitional rules for businesses withdrawing from these markets.
Key points
Companies and individuals paying taxes in Russia and Belarus will not be able to claim foreign tax credits in the U.S.
Certain tax benefits for foreign governments and central banks of Russia and Belarus will be suspended.
Tax information exchange between the U.S. and Russia/Belarus will be halted.
The act provides special rules for companies reducing their business in Russia and Belarus to facilitate their exit from these markets.
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Expired
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Additional Information
Print number: 117_HR_7901
Sponsor: Rep. Schneider, Bradley Scott [D-IL-10]
Process start date: 2022-05-27
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Support Ukraine Through Our Tax Code Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_7901.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-05-27.

What are the main provisions?

Key points include:

  • Companies and individuals paying taxes in Russia and Belarus will not be able to claim foreign tax credits in the U.S.
  • Certain tax benefits for foreign governments and central banks of Russia and Belarus will be suspended.
  • Tax information exchange between the U.S. and Russia/Belarus will be halted.
  • The act provides special rules for companies reducing their business in Russia and Belarus to facilitate their exit from these markets.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Schneider, Bradley Scott [D-IL-10].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Taxes Economy