Working Class Bonus Tax Relief Act of 2024

Summary

Working Class Bonus Tax Relief Act of 2024 This bill allows a tax deduction for bonuses received by an individual, subject to income limitations, through 2029. The amount of the deduction may not exceed 15% of the individual’s regular wages from the same employer. Further, the deduction is not allowed for individuals with annual adjusted gross income exceeding $100,000 (or $150,000 for heads of the household and $200,000 for married couples filing a joint return).  

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Timeline

1. 25 September 2024

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 25 September 2024

   Introduced

   Introduced in House

   Source: IntroReferral

3. 25 September 2024

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 25 September 2024 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 25 September 2024

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 25 September 2024

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 25 September 2024

  Open at official source

Sponsors

• Don Bacon · R · Sponsor
• · hswm00 · Standing

Related records

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