H.R. 9800 · 118th Congress
Working Class Bonus Tax Relief Act of 2024
- Stage
- In committee
- Sponsor
- Don Bacon
- Introduced
- 2024-09-25
- Latest action
- 2024-09-25 · Introduced in House
Summary
Working Class Bonus Tax Relief Act of 2024
This bill allows a tax deduction for bonuses received by an individual, subject to income limitations, through 2029. The amount of the deduction may not exceed 15% of the individual’s regular wages from the same employer. Further, the deduction is not allowed for individuals with annual adjusted gross income exceeding $100,000 (or $150,000 for heads of the household and $200,000 for married couples filing a joint return).