H.R. 9799, titled the “Overtime Pay Tax Relief Act of 2024,” aims to amend the Internal Revenue Code of 1986 to allow workers to deduct a portion of their overtime earnings from their taxes. This deduction would be limited to 20% of the individual's other wages and is not available for those...
Simple Explanation
H.R. 9799 is a bill that wants to let people pay less tax when they work overtime by allowing them to count some of the extra money they earn as not taxable, but this only works if they make less than certain amounts of money. It lasts until the end of 2029 and aims to help people save on their taxes when working extra hours.