Schneider, Golden Introduce Bipartisan Bill to Disallow Foreign Tax Credits and Other Tax Benefits for Companies Operating in Russia

WASHINGTON —Congressmen Brad Schneider (IL-10), Jared Golden (ME-0) introduced legislation to disallow foreign tax credits for companies that pay taxes to the Russian government, and other tax benefits. Reps. Salud Carbajal (CA-24), Don Bacon (NE-2), Jim Baird (IN-4), and Adam Kinzinger (IL-16) co-led the bill.

"Every day, Congress is working on ways to ramp up pressure on Russia for their unprovoked invasion of Ukraine. I'm working with Republican and Democratic colleagues to end any possible U.S. support for Russia's war machine by disallowing tax breaks for companies doing business there. This additional step is a common sense move to crack down on Russian oligarchs and pro-Putin companies who have been taking advantage of our tax code."

The legislative text is here.

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