Bill Tracker / 119th Congress / H.R. 405
H.R. 405 · 119th Congress
Keep Every Extra Penny Act of 2025
Introduced→
In Committee→
Passed One Chamber→
Passed Both Chambers→
Became Law
Latest action: Referred to the House Committee on Ways and Means. — 01/15/2025
What This Bill Does
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.
Summary as of 01/15/2025, via Congress.gov / Congressional Research Service.
Introduced
01/15/2025
Policy Area
Taxation
Cosponsors
1