Rep. Russ Fulcher (R-Idaho) reintroduced the Keep Every Extra Penny Act on Wednesday, aiming to exempt overtime wages from income tax. The legislation, first proposed last year, aligns with President-elect Trump’s campaign pledge to eliminate taxes on overtime earnings.
Fulcher argued that workers deserve to keep more of their pay, especially amid inflation and workforce shortages. The bill, which did not advance in the previous Congress, would apply to overtime wages under the Fair Labor Standards Act while preserving payroll taxes for Social Security and Medicare funding.
Trump has also advocated for removing taxes on tipped wages and Social Security benefits and proposed reducing the corporate tax rate. Congressional Republicans are debating whether to address these tax policies alongside immigration reform or as separate bills.
Vice President Harris’s campaign previously criticized Trump’s overtime tax proposal, citing his administration’s rollback of expanded overtime protections for millions of workers.
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