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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.
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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.
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.
Cross-referenced against federal contracts, SEC insider filings & congressional trade disclosures
Some confirming evidence found across public data sources
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
Digital Asset Market Clarity Act of 2025
Executive Order: Integrating Financial Technology Innovation into Regulatory Frameworks
Community Bank Regulatory Tailoring Act
Executive Order: Securing the Nation Against Advanced Cryptographic Attacks
V2X SYSTEMS LLC: $167M Department of Justice Contract
MAXIMUS EDUCATION LLC: $120M Department of Education Contract
NELNET SERVICING LLC: $155M Department of Education Contract
Executive orders & memoranda affecting the same sectors or companies
This executive order directs the Federal Housing Finance Agency to create pilot programs for automatic cancellation of mortgage insurance when borrowers have sufficient equity, and to expand a title insurance pilot to reduce costs for refinancing. It establishes a task force to promote manufactured housing by standardizing permits and reducing regulatory barriers. It also orders the Departments of Agriculture and Veterans Affairs to reduce interest rates on direct home loans.
This memorandum establishes a committee to investigate Federal Reserve Governor Lisa Cook for alleged false statements related to mortgage instruments, with a hearing scheduled and a recommendation on removal. It directs the Attorney General, Counsel to the President, and others to participate, and sets a timeline for findings.
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