HR 405 · 119th Congress · Taxation

Keep Every Extra Penny Act of 2025

Introduced 2025-01-15· Sponsored by Rep. Fulcher, Russ [R-ID-1]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2025-01-15)

Plain Language Summary

[AI summary unavailable — showing source text] 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.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Republican
Rep. Rulli, Michael A. [R-OH-6]OH