Politiparty
Politiparty

118th Congress Taxation

H.R. 9799: Overtime Pay Tax Relief Act of 2024

Introduced

  1. Introduced (completed)Sep 25, 2024
  2. Passed House (not reached)
  3. Passed Senate (not reached)
  4. To the President (not reached)
  5. Became law (not reached)

Summary

Introduced in House, Sep 25, 2024

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).

Written by the Congressional Research Service, Library of Congress.

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Other bills by Don Bacon

History

  1. Sep 25, 2024Introduced in the House by Don Bacon.
Show the full action history (2 actions)
  1. Sep 25, 2024Introduced in House
  2. Sep 25, 2024Referred to the House Committee on Ways and Means.