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Referenced Laws
chapter 1
Section 1
1. Short title This Act may be cited as the Keep Every Extra Penny Act of 2025.
Section 2
2. Exclusion of overtime compensation from gross income 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: Gross income shall not include overtime compensation required under section 7 of the Fair Labor Standards Act of 1938. 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: The amendments made by this section shall apply to amounts received after the date of the enactment of this Act. 139J.Overtime compensationGross income shall not include overtime compensation required under section 7 of the Fair Labor Standards Act of 1938.. Sec. 139J. Overtime compensation..
Section 3
139J. Overtime compensation Gross income shall not include overtime compensation required under section 7 of the Fair Labor Standards Act of 1938.