119-HR1062
Growing and Preserving Innovation in America Act of 2025
Last action was on 2-6-2025
SenateCurrent status is Referred to the House Committee on Ways and Means.
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119th CONGRESS
1st Session
H. R. 1062
1. Short title2. Repeal of scheduled reduction in the deduction for foreign-derived intangible income1. Short title
This Act may be cited as the "Growing and Preserving Innovation in America Act of 2025".
2. Repeal of scheduled reduction in the deduction for foreign-derived intangible income
(a) In general - Section 250(a)(3) of the Internal Revenue Code of 1986 is amended by striking "paragraph (1)" and all that follows and inserting "paragraph (1)(B) shall be applied by substituting "37.5 percent" for "50 percent".".
(b) Effective date - The amendment made by this section shall take effect on the date of the enactment of this Act.