House
Jan 15, 2025Keep Every Extra Penny Act of 2025
Summary
Official
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.
Bill Progress
Bill has been introduced and assigned a number
Introduced(1/15/25)
Committee
Passed
House
Passed
Senate
President
Law
Sponsor
RF
Mr. Fulcher
House (R) Idaho – 1
Cosponsors (1)
Latest Action
Referred to the House Committee on Ways and Means.
Jan 15, 2025
View Bill on Congress.gov