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HR 1062 · in committee · major

Growing and Preserving Innovation in America Act of 2025

What this bill does

  • The bill makes permanent higher tax deductions for U.S. corporations on foreign-derived intangible income and global intangible low-taxed income.
  • Domestic corporations benefit by maintaining current deduction rates that would otherwise decline in 2026.
  • The change takes effect in 2026 and reduces federal tax revenue by allowing larger corporate tax deductions.

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Community Threads

Started by Cosponsor

  1. 01

    How would permanently extending these corporate tax deductions affect federal funding for programs like infrastructure, education, or defense compared to letting them expire?

  2. 02

    Which U.S. industries or company sizes would benefit most from maintaining higher deductions on intangible income earned abroad, and would smaller domestic firms face competitive disadvantages?

  3. 03

    What evidence exists that these deductions increase domestic job creation and investment in the U.S., versus primarily shifting profits to lower-tax jurisdictions?

Cosponsor writes these to seed civic discussion — they aren't user posts. Sign in to reply.

Sponsor · R-IA-4

Randy Feenstra

Citizen cosponsors

0

In Congress

7/ 435

House Reps cosponsoring

Introduced 2025-02-06

Joining the bill

Legislative timeline

  1. 2025-02-06 · house · IntroReferral

    Referred to the House Committee on Ways and Means.

  2. 2025-02-06 · IntroReferral

    Introduced in House

  3. 2025-02-06 · IntroReferral

    Introduced in House

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