Keep Every Extra Penny Act of 2025
- Bill Number
- H.R. 405
- Origin Chamber
- House
- Congress
- 119th Congress, Session 1
- Policy Area
- Taxation
- Status
- Introduced
- Latest Action
- 2025-01-15: Referred to the House Committee on Ways and Means.
- Last Updated
- 2025-12-05T22:00:37Z
Official 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.
Sponsor
Cosponsors (1)
Rep. Rulli, Michael A. [R-OH-6]
Recent Actions
- 2025-01-15: Referred to the House Committee on Ways and Means.
- 2025-01-15: Introduced in House
- 2025-01-15: Introduced in House
Bill Versions
- Keep Every Extra Penny Act of 2025 — issued 2025-01-15 — PDF (2 pages)