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Growing and Preserving Innovation in America Act of 2024

H.R. 8184 Rep. Michelle Steel (R-CA-45) In committee
Bill text PDF
  1. Introduced Apr 30
  2. Committee Apr 30
  3. Passed House Next
  4. Passed Senate Not yet
  5. To President Not yet
  6. Law Not yet
Where it stands
In committee, Apr 30, 2024Next: House vote
911d ago Apr 30, 2024: Referred to the House Committee on Ways and Means.
Final votes
No roll callsNo recorded vote on this bill yet
Lobbying
3companies, 3 filings
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Member trades
18trades in the last 90 days
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Companies lobbying on this bill

3 companies
Companies by sector
Consumer & Retail 1Mining & Materials 1Technology & Software 1
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Summary

This bill amends the Internal Revenue Code of 1986 to repeal a scheduled reduction in the deduction for foreign-derived intangible income (FDII). It permanently sets the deduction percentage at 37.5 percent instead of allowing it to decrease to 50 percent as previously scheduled.

Sec. 2, Repeal of scheduled reduction in the deduction for foreign-derived intangible income: The bill modifies Section 250(a)(3) of the Internal Revenue Code to replace the existing language with a provision that applies a 37.5 percent deduction rate for foreign-derived intangible income, rather than the previously scheduled reduction to 50 percent. This change takes effect on the date the bill is enacted.

Summary of the bill text as introduced in House (Apr 30, 2024), generated by SecBot from the official bill text; the Library of Congress summary is not yet published.

Official record from Congress.gov, the House Clerk and the Senate; lobbying from Lobbying Disclosure Act filings. Updated Oct 27, 2026.