The bill would amend federal tax law to exclude overtime pay required under the Fair Labor Standards Act from gross income for income tax purposes. The change would apply to amounts received after enactment. The bill was introduced in the Senate and referred to the Committee on Finance.
If enacted, qualifying overtime pay would not be included in gross income when calculating income tax. The bill does not state how this change would affect individual tax bills.
No publicly available information about the bill’s fiscal cost.
No publicly available information.
No publicly available information.