H.R. 405 explained · 119th Congress · Pending in Congress
Keep Every Extra Penny Act of 2025
Cosponsors: 1 (0 D, 1 R) · per Congress.gov, 2026-10-12
Introduced: 2025-01-15
Latest action (2025-01-15): Referred to the House Committee on Ways and Means.
What H.R. 405 does, in plain terms
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.
Official summary by the Congressional Research Service, via Congress.gov.
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