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United States · Bill · HR

H.R. 405 (119th)

Keep Every Extra Penny Act of 2025

referredUnited States· United States Congress· EN

Introduced

15 January 2025

Last action

Status

Referred to the House Committee on Ways and Means.

Sponsors

Subjects

Discovery layer

Source updated

18 July 2026

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.

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Documents

2 official files

Introduced in House

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Sources

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