Growing and Preserving Innovation in America Act of 2025
Official title: To amend the Internal Revenue Code of 1986 to repeal the scheduled reduction in the deduction for foreign-derived intangible income.
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Referred to the House Committee on Ways and Means.
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.
- 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/)