David Kustoff
09/11/2024 | Press release | Distributed by Public on 09/11/2024 14:17
Kustoff Bill, the Stop Terror-Financing and Tax Penalties on American Hostages Act, Passes Ways and Means Committee
WASHINGTON, D.C. -Today, the House Committee on Ways and Means unanimously passed Congressman David Kustoff's (R-TN) bill, H.R. 9495, the Stop Terror-Financing and Tax Penalties on American Hostages Act, which was led alongside Congresswoman Claudia Tenney (R-NY).
This bipartisan legislation will revoke the tax-exempt status of U.S. nonprofits found to have provided material support to designated terrorist groups and waive certain Internal Revenue Service (IRS) late fees and penalties for Americans held unlawfully abroad. Click here to watch Congressman Kustoff's remarks in committee.
"Congress and the American people should not and will not tolerate domestic nonprofits taking advantage of the U.S. tax code to finance terrorism and extremism. The Stop Terror-Financing and Tax Penalties on American Hostages Act will revoke the tax-exempt status of any organization deemed to have provided material support or resources to a designated terrorist group," said Congressman Kustoff. "Additionally, this legislation will address an unacceptable flaw currently in the tax code that penalizes American citizens who have been wrongfully detained or held hostage abroad. Right now, there are numerous American hostages being held captive in Gaza, Iran, Russia, and China. It is our responsibility to bring these Americans home and ensure that they do not have to deal with IRS bureaucracy upon their return. I am glad to see the House Ways and Means Committee unanimously pass this bipartisan, commonsense legislation that will make much needed improvements to the U.S. tax code."
"The October 7 attack on Israel by Hamas is a sobering reminder that foreign adversaries seeking to influence American foreign policy will use our citizens as bargaining leverage. The last thing Americans who have been held hostage or wrongfully detained abroad - including several Americans currently held hostage by Hamas - should have to worry about is settling an unpaid tax bill with Uncle Sam. An investigation by our committee has also revealed that some of the same groups holding Americans hostage like Hamas may be receiving support from American tax-exempt organizations to help finance their terror. The Stop Terror-Financing and Tax Penalties on American Hostages Act, authored by Reps. Tenney, Kustoff, Schneider, and Titus would prevent the IRS from charging penalties on back-due taxes owed by Americans held hostage or wrongfully detained abroad and require the IRS to revoke the tax-exempt status of any organization that provides financial support or resources to designated terrorist groups like Hamas," said Ways and Means Committee Chairman Jason Smith (R-MO).
H.R. 9495 was introduced in the House of Representatives on September 9, 2024, by Reps. Kustoff, Tenney, Brad Schneider (D-IL), and Dina Titus (D-NV).
This bipartisan legislation will revoke the tax-exempt status of U.S. nonprofits found to have provided material support to designated terrorist groups and waive certain Internal Revenue Service (IRS) late fees and penalties for Americans held unlawfully abroad. Click here to watch Congressman Kustoff's remarks in committee.
"Congress and the American people should not and will not tolerate domestic nonprofits taking advantage of the U.S. tax code to finance terrorism and extremism. The Stop Terror-Financing and Tax Penalties on American Hostages Act will revoke the tax-exempt status of any organization deemed to have provided material support or resources to a designated terrorist group," said Congressman Kustoff. "Additionally, this legislation will address an unacceptable flaw currently in the tax code that penalizes American citizens who have been wrongfully detained or held hostage abroad. Right now, there are numerous American hostages being held captive in Gaza, Iran, Russia, and China. It is our responsibility to bring these Americans home and ensure that they do not have to deal with IRS bureaucracy upon their return. I am glad to see the House Ways and Means Committee unanimously pass this bipartisan, commonsense legislation that will make much needed improvements to the U.S. tax code."
"The October 7 attack on Israel by Hamas is a sobering reminder that foreign adversaries seeking to influence American foreign policy will use our citizens as bargaining leverage. The last thing Americans who have been held hostage or wrongfully detained abroad - including several Americans currently held hostage by Hamas - should have to worry about is settling an unpaid tax bill with Uncle Sam. An investigation by our committee has also revealed that some of the same groups holding Americans hostage like Hamas may be receiving support from American tax-exempt organizations to help finance their terror. The Stop Terror-Financing and Tax Penalties on American Hostages Act, authored by Reps. Tenney, Kustoff, Schneider, and Titus would prevent the IRS from charging penalties on back-due taxes owed by Americans held hostage or wrongfully detained abroad and require the IRS to revoke the tax-exempt status of any organization that provides financial support or resources to designated terrorist groups like Hamas," said Ways and Means Committee Chairman Jason Smith (R-MO).
H.R. 9495 was introduced in the House of Representatives on September 9, 2024, by Reps. Kustoff, Tenney, Brad Schneider (D-IL), and Dina Titus (D-NV).
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