H.R. 10431

U.S. Innovation and Global Competitiveness Act of 2026

Sponsor: Ron Estes · 0 cosponsors

Follow this bill

Where it stands

Introduced Sep 16
Committee Now
House of Representatives —
Senate —
Law —

Introduced Sep 16
Committee Now
House of Representatives —
Senate —
Law —

Referred to the House Committee on Ways and Means. (Sep 16)

Votes

No roll-call votes yet.

Official summary

No official summary yet.

Text of the bill

Expand all

Sec. 1. Short title, etc

Sec. 2. Modification of deduction for foreign-derived intangible income and net controlled foreign corporation tested income

Sec. 3. Modifications to base erosion minimum tax

Sec. 4. Modification of foreign tax credit limitation baskets

Sec. 5. Carryover of net CFC tested loss

Sec. 6. Redetermination of foreign taxes and related claims

Sec. 7. Repeal of foreign tax credit haircut for net controlled foreign corporation tested income

Sec. 8. Repeal of inclusion percentage applicable to deemed paid credit for taxes properly attributable to tested income

Sec. 9. Application of foreign-source dividend deduction to amounts received by controlled foreign corporations

Sec. 10. Elimination of inclusion of foreign base company sales income and foreign base company services income

Sec. 11. Corporations exempt from subpart F inclusion for investment in United States property

Sec. 12. Special rules for transfers of intangible property from controlled foreign corporations to United States shareholders

Sec. 13. Net CFC tested income determined without regard to certain income derived from services performed in the United States Virgin Islands

Sec. 14. Repeal of modification to definition of adjusted taxable income for purposes of the limitation on business interest

Sec. 15. Research credit treated as a specified credit for all taxpayers for purposes of general business credit

Sec. 16. Regulations to prevent duplicative charges to capital account for certain research and development expenditures

(a) In general. Section 174 is amended by adding at the end the following new subsection:

Text this section adds to the law

(e) Regulations. The Secretary shall prescribe regulations or other guidance as may be necessary or appropriate to carry out the purposes of this section, including regulations or other guidance that prevents the same economic expense from being charged to capital account by more than 1 member of a controlled group of corporations (as defined in section 41(f)(5)). Such regulations shall not change the treatment of such expenses for other purposes of this title.