HR 405
119th Congress
House
Taxation
Keep Every Extra Penny Act of 2025
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 15, 2025
Referred to the House Committee on Ways and Means.
Jan 15, 2025
Introduced in House
Plain-English 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.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1