Russian War Crimes in Ukraine Tax Act
- Last Action
- 12/13/2023
Actions
- 2023-12-13Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 41 - 5.
- 2023-12-13Committee Consideration and Mark-up Session Held
- 2023-11-15Referred to the Committee on Foreign Affairs, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2023-11-15Referred to the Committee on Foreign Affairs, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2023-11-15Introduced in House
- 2023-11-15Introduced in House
CRS Summary
As of 2023-11-15 (00)
Russian War Crimes in Ukraine Tax Act
This bill imposes a 100% excise tax on certain assets of Russia and Belarus that have been frozen in connection with the invasion of Ukraine.
The bill establishes the Ukraine Reconstruction Trust Fund to hold tax revenues generated by this bill. Such revenues shall be used for the benefit of Ukraine, including reconstruction and rebuilding efforts, humanitarian assistance, and the fostering of long-term economic growth.
The Department of State must direct the U.S. Permanent Representative to the United Nations to use U.S. influence to encourage the transfer of capital gains on Russian sovereign assets to Ukraine.
Cosponsors (20)
- Joe Wilson (R-SC)
- Don Bacon (R-NE)
- Brian Fitzpatrick (R-PA)
- Aumua Amata Radewagen (R-AS)
- Maria Salazar (R-FL)
- CHRISTOPHER SMITH (R-NJ)
- EARL BLUMENAUER (D-OR)
- Brendan Boyle (D-PA)
- Judy Chu (D-CA)
- Emanuel Cleaver (D-MO)
- Steve Cohen (D-TN)
- Jim Costa (D-CA)
- Henry Cuellar (D-TX)
- DANNY DAVIS (D-IL)
- John Garamendi (D-CA)
- Daniel Goldman (D-NY)
- Josh Gottheimer (D-NJ)
- Al Green (D-TX)
- Raúl Grijalva (D-AZ)
- Henry Johnson (D-GA)
Subjects
- Belarus
- Congressional oversight
- Diplomacy, foreign officials, Americans abroad
- Economic development
- Europe
- Foreign aid and international relief
- Foreign and international banking
- Government trust funds
- Interest, dividends, interest rates
- International law and treaties
- Reconstruction and stabilization
- Russia
- Sales and excise taxes
- Ukraine
- United Nations
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.