No Tax Exemptions For Terror Act
Summary
HR5890, the No Tax Exemptions For Terror Act, is an early-stage bill targeting specific non-profits' tax-exempt status. It has no direct financial mechanism to affect Visa, Mastercard, or PayPal. Market data from the last 30 days shows these stocks in an overall uptrend with no reaction to this legislation.
See which stocks are affected
Key takeaways, market implications, full AI analysis, and connected signals are available to HillSignal members.
Already have an account? Log in
Key Takeaways
- 1.HR5890 is in the earliest legislative stage — referred to committee with no further action in over 6 months.
- 2.The bill has no funding authorization or appropriation — it only changes tax treatment for specific non-profits.
- 3.Payment processors Visa, Mastercard, and PayPal show no market reaction to this bill; recent price action is based on unrelated market factors.
Market Implications
Based on real market data through April 30, 2026, Visa at $330.09, Mastercard at $509.78, and PayPal at $49.94 all trade within their 52-week ranges with recent positive 30-day momentum. No market pricing of HR5890 risk is detectable. Investors should treat this bill as a non-event for payment processors. No position changes warranted based on this legislation.
Full Analysis
HR5890 was introduced on October 31, 2025, by Rep. Chip Roy (R-TX) and referred to the House Ways & Means Committee. The bill is in its earliest legislative stage — it has no hearings, no markups, and no Senate companion bill that has progressed. The bill targets the Council on American-Islamic Relations (CAIR) and any organization found to have ties to terrorism, revoking their 501(c)(3) tax-exempt status. This is a tax penalty mechanism, not a spending authorization or procurement mandate. There is zero appropriated or authorized funding in this bill — the only fiscal effect is potential revenue gain from taxing previously exempt organizations' income, which is immaterial at the federal budget scale. The market data for Visa, Mastercard, and PayPal shows no volatility correlated with this bill. Over the last 7 days: is up 6.68%, is up 1.11%, is down 1.07%. Over 30 days: +9.21%, +2.02%, +10.41%. These movements are consistent with broader market and sector trends, not legislative risk. The bill's path to enactment is long: it must pass Ways & Means, the full House, the Senate, and be signed into law. With only 19 cosponsors and no Democratic support, passage in the current Congress is speculative at best. Even if enacted, the direct affected entity (CAIR) does not represent a material portion of payment processing volume for any of the identified tickers. No structural winners or losers emerge from this legislation.
Intelligence Surface
Cross-referenced against federal contracts, SEC insider filings & congressional trade disclosures
Some confirming evidence found across public data sources
Connected Signals
Matched on shared policy language across AI analyses, with ticker & timing weight
Presidential Memorandum: Presidential Determination Pursuant to Section 303 of the Defense Production Act of 1950, as Amended, on Development, Manufacturing, and Deployment of Large-Scale Energy and Energy‑Related Infrastructure
Executive Order: Integrating Financial Technology Innovation into Regulatory Frameworks
Community Bank Regulatory Tailoring Act
Digital Asset Market Clarity Act of 2025
Executive Order: Promoting Retirement-Savings Access for American Workers by Establishing TrumpIRA.gov
Executive Order: Imposing Sanctions on Those Responsible for Repression in Cuba and for Threats to United States National Security and Foreign Policy
Executive Order: Restoring Integrity to America’s Financial System
A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Beginning of Construction Requirements for Purposes of the Termination of Clean Electricity Production Credits and Clean Electricity Investment Credits for Applicable Wind and Solar Facilities".
Related Presidential Actions
Executive orders & memoranda affecting the same sectors or companies
National Homeownership Month, 2026
This proclamation formalizes National Homeownership Month and details several ongoing or proposed policy actions: Fannie Mae and Freddie Mac are directed to purchase $200 billion in mortgage-backed securities to lower borrowing costs; an executive order bans large institutional investors from buying single-family homes; and the Administration calls on Congress to pass the 21st Century ROAD to Housing Act to make these reforms permanent. The action also reaffirms efforts to restrict taxpayer-backed loans to only law-abiding citizens, targeting fraud and illegal immigration as a means to improve housing affordability.
Implementing Schedule Policy/Career in the Excepted Service
This executive order expands the Schedule Policy/Career excepted service category, transferring certain federal positions from competitive service to at-will employment to facilitate removal for poor performance or misconduct. It directs agency heads to petition for reclassification of policy-influencing roles, mandates performance bonus pools for these employees, and amends civil service rules to exempt them from standard adverse action procedures.
Restoring Integrity to America’s Financial System
This executive order directs the Treasury Department to issue an advisory to financial institutions on risks from non-work authorized populations and their employers, propose regulatory changes to strengthen Bank Secrecy Act customer due diligence and identification requirements, and consider risks from foreign consular IDs. It also directs the CFPB to clarify that deportation risk can affect ability-to-repay assessments for non-work authorized borrowers, and federal financial regulators to issue guidance on credit risks from this population.
Free — no credit card
Get the next market-moving signal before the news does
HillSignal scores every Congressional bill, federal contract, and insider filing for market impact and emails you the high-conviction ones — free, no credit card.
Weekly digest — the congressional activity that actually moved markets that week, in plain English. Free, one email.
Free forever plan · No credit card · Unsubscribe in one click
Want the live terminal too? Create a free account →