Pipeline · Bill → Law
Step 1
Introduced
Sep 25, 2024
Step 2
Referred
Sep 25, 2024
Ways & Means
Step 3
Committee
Step 4
House floor
Step 5
Senate
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary
This bill allows an itemized deduction for overtime compensation received by an individual, subject to income limitations, through 2029. The amount of the itemized deduction may not exceed 20% of the individual’s regular wages from the same employer. Further, the itemized deduction is not allowed for individuals with income exceeding $100,000 (or $150,000 for heads of the household and $200,000 for married couples filing a joint return).
Timeline · 2 actions
Sep 25, 2024
Introduced in House
Sep 25, 2024
Referred to the House Committee on Ways and Means.