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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.
Introduced
Jan 15, 2025
Last Action
Jan 15, 2025
Session
119th Congress
Sponsors
1 primary · 1 co
Passage Probability
2% — Very Low
Introduced in House
Referred to the House Committee on Ways and Means.
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2%
Estimate based on legislative signals
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Upgrade to ProReferred to the House Committee on Ways and Means.