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Keep Every Extra Penny Act of 2025
H.R. 405, 119th Congress
- Status
- In committee
- Introduced
- 01/15/2025
- Cosponsors
- 1
- Latest action
- 01/15/2025
About this bill
- Official title
- Keep Every Extra Penny Act of 2025
- Sponsor
- Russ Fulcher (R-ID)
- Introduced in
- House
- Policy area
- Taxation
- Committees
- Ways and Means Committee
- Latest action
- Referred to the House Committee on Ways and Means.
Summary
Congressional Research Service, Introduced in House (01/15/2025)
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
Newest first
- 01/15/2025 · House
Referred to the House Committee on Ways and Means.
- 01/15/2025
Introduced in House
Source: U.S. Government Publishing Office, GovInfo Bill Status; Congressional Research Service summaries · Last updated 01/15/2025
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