119th Congress · SENATE BILLBILL

S. 1046 — No Tax On Overtime Act of 2025

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

Taxation

Introduced Mar 13, 2025

Last action Mar 13, 2025

Pipeline · Bill → Law

Step 1

Introduced

Mar 13, 2025

Step 2

Referred

Mar 13, 2025

Finance

Step 3

Committee

Step 4

Senate

Step 5

House floor

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill excludes from gross income for federal income tax purposes overtime compensation paid for hours worked in excess of 40 hours per week (as required by the Fair Labor Standards Act of 1938). Under current law, overtime compensation paid to a taxpayer is included in gross income for purposes of calculating federal income taxes.

Provisions · 2 sectionsIntroduced in Senate

Timeline · 2 actions

Mar 13, 2025

Introduced in Senate

Mar 13, 2025

Read twice and referred to the Committee on Finance.