Blocks tax breaks for taxes paid to Russia

Taxpayers could no longer claim a foreign tax credit or an itemized deduction for taxes paid to Russia, starting 30 days after the law passes for the credit and 90 days for the deduction.

• Bars the foreign tax credit for taxes paid, owed, or treated as paid to Russia
• Also bars an itemized deduction for those Russian taxes
• The credit bar starts 30 days after the law passes; the deduction bar starts after 90 days
• The credit bar lasts until normal trade relations with Russia are restored

Passed the Senate · House's turn

Read the full bill