(o). 15003. Repeal of reduced deduction for global intangible low-taxed income and foreign-derived intangible income Section 250(a), as added by section 14202, is amended by striking paragraph (3). 15004. Repeal of modifications to the base erosion and anti-abuse tax Section 59A(b), as added by section 14401, is amended to read as follows: (b) Base erosion minimum tax amount For purposes of this section, the term base erosion minimum tax amount means, with respect to any applicable taxpayer for any taxable year, the excess (if any) of— (1) an amount equal to 10 percent of the modified taxable income of such taxpayer for the taxable year, over (2) an amount equal to the regular tax liability (as defined in section 26(b)) of the taxpayer for the taxable year, reduced (but not below zero) by the excess (if any) of— (A) the credits allowed under this chapter against such regular tax liability, over (B) the credit allowed under section 38 for the taxable year which is properly allocable to the research credit determined under section 41(a). . 15005. Repeal of amortization of research and experimental expenditures (a) In general Section 174, as amended by section 13206, is amended to read as follows: 174. Research and experimental expenditures (a) Treatment as Expenses (1) In general A taxpayer may treat research or experimental expenditures which are paid or incurred by him during the taxable year in connection with his trade or business as expenses which are not chargeable to capital account. The expenditures so treated shall be allowed as a deduction. (2) When method may be adopted (A) Without consent A taxpayer may, without the consent of the Secretary, adopt the method provided in this subsection for his first taxable year for which expenditures described in paragraph (1) are paid or incurred. (B) With consent A taxpayer may, with the consent of the Secretary, adopt at any time the method provided in this subsection. (3) Scope The method adopted under this subsection shall apply to all expenditures described in