Section 1 Short title
This Act may be cited as the “Growing and Preserving Innovation in America Act of 2025”.
Growing and Preserving Innovation in America Act of 2025
A BILL
To amend the Internal Revenue Code of 1986 to repeal the scheduled reduction in the deduction for foreign-derived intangible income.
Sec. 2 Repeal of scheduled reduction in the deduction for foreign-derived intangible income
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”.”.
Effective date— The amendment made by this section shall take effect on the date of the enactment of this Act.