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.
Introduced in House
Introduced in House
Referred 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.
Referred 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.
Committee Consideration and Mark-up Session Held
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 41 - 5.
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