This bill amends the Internal Revenue Code to restrict tax benefits for entities using technology controlled by foreign adversaries. It expands the definition of a "foreign-influenced entity" to include any entity that uses foreign adversary-controlled technology during a taxable year. This technology is defined as information and communications technology or services designed, developed, manufactured, or provided by a specified foreign entity or foreign-influenced entity, or dependent on such components for core functionality. The legislation specifically denies several tax advantages to these entities. Businesses will be ineligible for bonus depreciation on foreign adversary-controlled technology and property owned by prohibited foreign entities. Furthermore, the bill denies the full expensing of domestic research and experimental expenditures for the acquisition or development of such technology or when incurred by a prohibited foreign entity. It also modifies the calculation of adjusted taxable income for the business interest deduction, excluding items attributable to foreign adversary-controlled technology or businesses owned by prohibited foreign entities. Additionally, the credit for increasing research activities will be denied to any taxpayer identified as a specified foreign entity or a foreign-influenced entity. These amendments will apply to taxable years beginning one year after the bill's enactment.