Growing and Preserving Innovation in America Act of 2025
Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.
Growing and Preserving Innovation in America Act of 2025
This bill makes permanent the increased percentage rates at which a domestic corporation may deduct (for federal tax purposes) foreign-derived intangible income and global intangible low-taxed income (GILTI).
As background, for tax years beginning after 2017 and before 2026, a domestic corporation generally is allowed a tax deduction equal to the sum of (1) 37.5% of the corporation’s foreign-derived intangible income, and (2) 50% of the corporation’s GILTI and any dividends that are attributable to the corporation’s GILTI. However, under current law, the tax deduction decreases starting in 2026, to the sum of (1) 21.875% of the corporation’s foreign-derived intangible income, and (2) 37.5% of the corporation’s GILTI and any dividends that are attributable to the corporation’s GILTI.
Under the bill, for tax years beginning in 2026, a domestic corporation generally may claim a tax deduction equal to the sum of (1) 37.5% of the corporation’s foreign-derived intangible income, and (2) 50% of the corporation’s GILTI and any dividends that are attributable to the corporation’s GILTI.
Referred to the House Committee on Ways and Means.
- Introduced in House Formatted Text PDF Formatted XML
Cite this page
U.S. Congress. (2026). H.R. 1062: Growing and Preserving Innovation in America Act of 2025. 119th Congress. Open America. https://openamerica.io/bill/119-HR-1062/
"H.R. 1062: Growing and Preserving Innovation in America Act of 2025." 119th Congress, 2026, Open America, https://openamerica.io/bill/119-HR-1062/.
H.R. 1062, 119th Cong. (2026), https://openamerica.io/bill/119-HR-1062/.
[H.R. 1062: Growing and Preserving Innovation in America Act of 2025](https://openamerica.io/bill/119-HR-1062/)