Growing and Preserving Innovation in America Act of 2025

Keeps the current deduction for foreign-derived intangible income (FDII) in place by removing a scheduled cut to that deduction in the Internal Revenue Code. The change takes effect on the date the law is enacted and prevents the planned reduction from applying.

The immediate effect is to maintain a more favorable U.S. tax benefit for domestic companies that earn export-linked income from intangible assets (royalties, licensing, certain services). This primarily benefits U.S. multinational firms, their owners and investors, and the tax advisers who work with them, while reducing future federal revenue relative to the scheduled cut.