The purpose of this legislation is to amend the tax code to prevent a planned reduction in the tax deduction for foreign-derived intangible income. This deduction is important for businesses that earn income from intangible assets, such as patents or trademarks, that are used to generate revenue from foreign markets. The key provision of this legislation is the repeal of a scheduled reduction in the deduction rate for foreign-derived intangible income. Specifically, it changes the deduction from a planned decrease to 37.5 percent instead of the previously set 50 percent.