Support legislation to revise NCTI rules by eliminating the 10% foreign tax credit reduction, allowing NCTI loss carryforwards, allowing foreign tax credit carryforwards and carrybacks, reducing foreign tax credit categories, and giving Treasury more flexibility on redeterminations.

Eliminate the 10% reduction in foreign tax credits for NCTI, allow NCTI losses to be carried forward for up to five years and allow those foreign tax credits to be carried forward and back like other business credits. The bill also reduces the number of foreign tax credit categories from four to two and gives the Treasury Department more flexibility on foreign tax redeterminations.

The bill would change NCTI and foreign tax credit rules, including credit reductions, carryforwards, carrybacks, categories, and Treasury redetermination flexibility.

Estes Introduces Bill to Update US International Tax Rules | U.S. Representative Ron Estes
primary · press_release · model gpt-5.5

verified · Source version 67713 · locator 985

Rep. Ron Estes (R-Kansas) on Wednesday introduced the U.S. Innovation and Global Competitiveness Act of 2026

Fetched verbatim passage. AI summary (separate from source): Estes’ official House release says he introduced the bill addressing the international tax changes in the claim.

unresolved same_term A for effort

Estes Introduces Bill to Update US International Tax Rules | U.S. Representative Ron Estes
primary · model gpt-5.5 · confidence 93%

verified · Source version 67717 · locator 1307

Mr. Estes introduced the following bill; which was referred to the Committee on Ways and Means

Fetched verbatim passage. AI summary (separate from source): GovInfo confirms H.R. 10431 was introduced by Estes and referred to committee, with no enactment shown; that is concrete effort but not final delivery of the policy.

unresolved same_term A for effort

H.R. 10431 (IH) - U.S. Innovation and Global Competitiveness Act of 2026 - BILLS-119hr10431ih | Content Details | GovInfo
secondary · model gpt-5.5 · confidence 96%