H.R. 405 · 119th Congress
Keep Every Extra Penny Act of 2025
- Stage
- In committee
- Sponsor
- Russ Fulcher
- Introduced
- 2025-01-15
- Latest action
- 2025-01-15 · Introduced in House
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.