Search Results: keywords:"keep every extra penny act"

  • H. R. 405 — To amend the Internal Revenue Code of 1986 to exclude overtime compensation from gross income for purposes of the income tax.
    Status:Introduced in House
    Words:293

    H. R. 405, also cited as the “Keep Every Extra Penny Act of 2025,” seeks to change the U.S. tax code by excluding overtime pay from a person's gross income for tax purposes. This amendment to the Internal Revenue Code of 1986 would mean that individuals wouldn't have to pay...

    Simple Explanation

    H. R. 405 is a plan to change the rules so people don't have to pay extra taxes on the money they earn from working more hours than usual. This means they get to keep more of the extra money they make from working overtime.