CONGRESS FOR VOTERS

RepublicanBill · H.R. 1062· House(119-HR-1062)

Growing and Preserving Innovation in America Act of 2025

Rep. Feenstra
Age: 57 years
Iowa
Introduced
2/6/2025
Last activity
2/6/2025 — Referred to the House Committee on Ways and Means.
Sponsored by
Randy Feenstra
Cosponsors
Republican - 6Democrat - 1
Taxation
  1. Introduced
  2. In Committee

What this bill would do

This bill, titled the ``Growing and Preserving Innovation in America Act of 2025'', aims to amend the Internal Revenue Code of 1986. Specifically, it seeks to repeal a scheduled reduction regarding the deduction for foreign-derived intangible income. The legislation changes how certain percentages are applied within Section 250(a)(3). This change is intended to take effect on the date the Act is enacted.

Yes

  • Would business owners be better off under this?+3

    The bill supports corporate owners by preserving a more favorable tax deduction for intangible income.

  • Would high-income households be better off under this?+2

    The bill benefits high-income entities and corporations by maintaining a higher deduction for foreign-derived intangible income.

  • Does this make the government pay for what it commits to?+2

    By maintaining a higher tax base through the repeal of a scheduled deduction reduction, the bill contributes to more stable federal revenue.

The opposite

  • Does this raise the taxes companies pay?-3

    The bill prevents a scheduled reduction in the deduction for foreign-derived intangible income, which results in higher effective tax rates for corporations compared to the scheduled reduction.