The Tipped Income Protection and Support Act, or TIPS Act (H. R. 1314) aims to change the Fair Labor Standards Act of 1938 by removing the separate lower minimum wage for tipped employees. Instead, tipped employees would earn the standard minimum wage, and...
Simple Explanation
The TIPS Act is a bill that plans to make sure workers who get tips, like restaurant servers, get the full normal minimum wage instead of a lower one, and they can keep all their tips, though they might need to share them with coworkers. It also lets these workers pay less tax on their tips if they follow certain rules.