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Keep Every Extra Penny Act of 2025
To amend the Internal Revenue Code of 1986 to exclude overtime compensation from gross income for purposes of the income tax.
Summary
HR 405 amends the Internal Revenue Code to exclude overtime compensation from gross income for federal income tax purposes. Overtime compensation required under the Fair Labor Standards Act of 1938 would not be counted as taxable income. The exclusion applies to overtime amounts received after the bill's enactment date.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Rep. Fulcher, Russ [R-ID-1] (R-ID)
1 cosponsor
Money behind the sponsor
Top reported contributors to Russ Fulcher’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- TREE TOP RANCHES $12,000
- HARRIS FAMILY LIMITED PARTNERSHIP $8,267
- NULL $7,550
- THE PACIFIC COMPANIES $6,600
- ULINE $6,600
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Russ Fulcher → · Outside spending →
Actions (2)
- Jan 15, 2025 Referred to the House Committee on Ways and Means. · house
- Jan 15, 2025 Introduced in House
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Text versions (1)
Bills are re-published as they move (Introduced → Reported → Engrossed → Enrolled …). Each stage below is a separate text; pick two to see what changed. Data from Congress.gov.
Full text
IN THE HOUSE OF REPRESENTATIVES
January 15, 2025
Mr. Fulcher (for himself and Mr. Rulli) introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to exclude overtime compensation from gross income for purposes of the income tax.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Keep Every Extra Penny Act of 2025”.
SEC. 2. EXCLUSION OF OVERTIME COMPENSATION FROM GROSS INCOME.
(a) In General.—Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 139I the following new section:
“SEC. 139J. OVERTIME COMPENSATION.
“Gross income shall not include overtime compensation required under section 7 of the Fair Labor Standards Act of 1938.”.
(b) Clerical Amendment.—The table of sections for part III of subchapter B of chapter 1 of such Code is amended by inserting after the item relating to section 139I the following new item:
“Sec. 139J. Overtime compensation.”.
(c) Effective Date.—The amendments made by this section shall apply to amounts received after the date of the enactment of this Act. <all>
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