Proposed
Bill · 119th Congress · HR 405
Keep Every Extra Penny Act of 2025
Refreshed 3 h ago
Introduced 2025-01-15Topic: taxesSummary
Summary by the Congressional Research ServiceKeep 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.
Sponsors
- Russ Fulcher Republican sponsor
- 1 cosponsors
Action history
| Date | Chamber | Action | Status effect |
|---|---|---|---|
| 2025-01-15 | House | Referred to the House Committee on Ways and Means. | refer |
| 2025-01-15 | Introduced in House | introduce | |
| 2025-01-15 | Introduced in House | introduce |