118th Congress · HOUSE BILLBILL

H.R. 8938 — Keep Every Extra Penny Act of 2024

“To amend the Internal Revenue Code of 1986 to exclude overtime compensation from gross income for purposes of the income tax.”

Taxation

Introduced Jul 8, 2024

Last action Jul 8, 2024

Pipeline · Bill → Law

Step 1

Introduced

Jul 8, 2024

Step 2

Referred

Jul 8, 2024

Ways & Means

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill excludes from gross income, for income tax purposes, overtime compensation required to be paid by the Fair Labor Standards Act of 1938 (hours of work in excess of 40 in a week).

Provisions · 2 sectionsIntroduced in House

Timeline · 2 actions

Jul 8, 2024

Introduced in House

Jul 8, 2024

Referred to the House Committee on Ways and Means.