House bill HR405-119

Ways and Means Committee

Keep Every Extra Penny Act of 2025

• Last activity on Jan 15, 2025

• Introduced Jan 15, 2025

• By Rep. Fulcher, Russ [R-ID-1]

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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.

House floor actions Actions

IntroReferral
Jan. 15 2025	Referred to the House Committee on Ways and Means.

Library of Congress Actions

IntroReferral
Jan. 15 2025	Introduced in House Introduced in House

House bill HR405-119

Keep Every Extra Penny Act of 2025

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