Bill Detail
H.R. 405
Congress: 119
Title
Keep Every Extra Penny Act of 2025
Summary
Keep Every Extra Penny Act of 2025 This bill excludes from gross income for federal income tax purposes overtime compensation paid for hours worked in excess of 40 hours per week (as required by the Fair Labor Standards Act of 1938). Under current law, overtime compensation paid to a taxpayer is included in gross income for purposes of calculating federal income taxes.
Sponsor
Rep. Russ Fulcher [R-ID-1]
Status
Referred to the House Committee on Ways and Means.
Status as of Jun 29, 5:52 PM · synced 3h ago
Introduced
2025-01-15
Data source mode: cache
Bill Engagement
Keep Every Extra Penny Act of 2025 This bill excludes from gross income for federal income tax purposes overtime compensation paid for hours worked in excess of 40 hours per wee…