HR 405
119th Congress
House
In Committee
Keep Every Extra Penny Act of 2025
Latest action: Referred to the House Committee on Ways and Means. · Jan 15, 2025
View full text on Congress.gov ↗ Policy area: Taxation
Legislative 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.
Source: Congressional Research Service (CRS).
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