HR 405 ยท Keep Every Extra Penny Act of 2025
Referred to the House Committee on Ways and Means.
- Introduced
- Jan 15, 2025
- Latest action
- Jan 15, 2025
- Sponsor
- Rep. Russ Fulcher [R-ID-1]
- Policy area
- Taxation
- Cosponsors
- 1
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.
Recent actions
- Jan 15, 2025 Referred to the House Committee on Ways and Means.
- Jan 15, 2025 Introduced in House
- Jan 15, 2025 Introduced in House
Votes
No recorded votes are available for this bill.