Washington D.C. – U.S. House Committee on Ways and Means, November 21, 2024
The U.S. House of Representatives overcame a Democrat blockade and passed bipartisan Ways and Means legislation that strengthens America’s national security and provides fair tax treatment to American hostages and those wrongfully detained abroad. Last week, House Democrats blocked the same legislation from passing even though it passed out of committee with unanimous support.
The Stop Terror-Financing and Tax Penalties on American Hostages Act (H.R. 9495) strips U.S.-based organizations of their tax-exempt status if they are found to be materially supporting terrorist organizations. For Americans who have been held hostage or wrongfully detained abroad, the bill also prevents the Internal Revenue Service (IRS) from charging penalties or assessing interest on taxes they owed while in captivity.
