March 11, 2025
To Members of the United States House of Representatives:
The U.S. Chamber of Commerce (“Chamber”) strongly supports H.R. 1062, the “Growing and Preserving Innovation in America Act of 2025.” This timely, bipartisan bill would permanently preserve a critical pro-innovation tax policy enacted in 2017, the deduction for foreign-derived intangible income (“FDII”), which is currently scheduled to phase down at the end of this year.
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By subjecting FDII to a reduced effective rate of U.S. tax through this deduction, Congress sought to encourage U.S. companies to locate and derive income from intangible property—and increase valuable economic activity—in the United States. The FDII deduction has proven remarkably effective at furthering these aims and should be made a permanent, undiluted feature of the U.S. international tax system.
The Chamber looks forward to working with you to advance this important legislation.
Sincerely,
Neil L. Bradley
Executive Vice President, Chief Policy Officer, and Head of Strategic Advocacy
