No Tax on Overtime for All Workers Act

The No Tax on Overtime for All Workers Act would amend the Internal Revenue Code to allow a tax deduction for certain overtime compensation earned by workers. It defines qualified overtime compensation as pay exceeding an employee’s regular rate for hours worked beyond a standard threshold—typically over 40 hours in a 7-day period—or as agreed-upon excess pay under pre-arranged terms, including for certain transportation workers covered by the Railway Labor Act. The deduction would apply to taxable years beginning after December 31, 2024, and would affect employees who receive overtime pay under the Fair Labor Standards Act or similar contractual arrangements. The bill was introduced in the…

No official summary is available here. This one was written by AI from the bill’s text.