Keep Every Extra Penny Act of 2025
119-HR-405119th CongressIntroduced Jan 15, 2025Taxation
Market Probability
No market
Status
Introduced
Committee
Floor Vote
Other Chamber
Signed
Referred to the House Committee on Ways and Means.
Sponsor
Rep. Fulcher, Russ [R-ID-1](R-ID-1)1 cosponsor
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.
Actions (3)
Referred to the House Committee on Ways and Means.
Jan 15, 2025House floor actions
Introduced in House
Jan 15, 2025Library of Congress
Introduced in House
Jan 15, 2025Library of Congress