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139 STAT. 75 PUBLIC LAW 119–21—JULY 4, 2025 Sec. 70110. Termination of miscellaneous itemized deductions other than educator expenses. Sec. 70111. Limitation on tax benefit of itemized deductions. Sec. 70112. Extension and modification of qualified transportation fringe benefits. Sec. 70113. Extension and modification of limitation on deduction and exclusion for moving expenses. Sec. 70114. Extension and modification of limitation on wagering losses. Sec. 70115. Extension and enhancement of increased limitation on contributions to ABLE accounts. Sec. 70116. Extension and enhancement of savers credit allowed for ABLE con- tributions. Sec. 70117. Extension of rollovers from qualified tuition programs to ABLE ac- counts permitted. Sec. 70118. Extension of treatment of certain individuals performing services in the Sinai Peninsula and enhancement to include additional areas. Sec. 70119. Extension and modification of exclusion from gross income of student loans discharged on account of death or disability. Sec. 70120. Limitation on individual deductions for certain state and local taxes, etc. CHAPTER 2—DELIVERING ON PRESIDENTIAL PRIORITIES TO PROVIDE NEW MIDDLE- CLASS TAX RELIEF Sec. 70201. No tax on tips. Sec. 70202. No tax on overtime. Sec. 70203. No tax on car loan interest. Sec. 70204. Trump accounts and contribution pilot program. CHAPTER 3—ESTABLISHING CERTAINTY AND COMPETITIVENESS FOR AMERICAN JOB CREATORS SUBCHAPTER A—PERMANENT U.S. BUSINESS TAX REFORM AND BOOSTING DOMESTIC INVESTMENT Sec. 70301. Full expensing for certain business property. Sec. 70302. Full expensing of domestic research and experimental expenditures. Sec. 70303. Modification of limitation on business interest. Sec. 70304. Extension and enhancement of paid family and medical leave credit. Sec. 70305. Exceptions from limitations on deduction for business meals. Sec. 70306. Increased dollar limitations for expensing of certain depreciable busi- ness assets. Sec. 70307. Special depreciation allowance for qualified production property. Sec. 70308. Enhancement of advanced manufacturing investment credit. Sec. 70309. Spaceports are treated like airports under exempt facility bond rules. SUBCHAPTER B—PERMANENT AMERICA-FIRST INTERNATIONAL TAX REFORMS PART I—FOREIGN TAX CREDIT Sec. 70311. Modifications related to foreign tax credit limitation. Sec. 70312. Modifications to determination of deemed paid credit for taxes properly attributable to tested income. Sec. 70313. Sourcing certain income from the sale of inventory produced in the United States. PART II—FOREIGN-DERIVED DEDUCTION ELIGIBLE INCOME AND NET CFC TESTED INCOME Sec. 70321. Modification of deduction for foreign-derived deduction eligible income and net CFC tested income. Sec. 70322. Determination of deduction eligible income. Sec. 70323. Rules related to deemed intangible income. PART III—BASE EROSION MINIMUM TAX Sec. 70331. Extension and modification of base erosion minimum tax amount. PART IV—BUSINESS INTEREST LIMITATION Sec. 70341. Coordination of business interest limitation with interest capitalization provisions. Sec. 70342. Definition of adjusted taxable income for business interest limitation. PART V—OTHER INTERNATIONAL TAX REFORMS Sec. 70351. Permanent extension of look-thru rule for related controlled foreign cor- porations.