HR 557 · 119th Congress — Working Class Bonus Tax Relief Act of 2025
Working Class Bonus Tax Relief Act of 2025 This bill allows a tax deduction for bonuses received by an individual, subject to income limitations, through 2029. The amount of the deduction may not exceed 15% of the individual’s regular…
- Congress
- 119
- Bill
- HR 557
- Status
- Introduced
- Introduced
- 2025-01-20
- Latest action date
- 2025-01-20
Summary
Working Class Bonus Tax Relief Act of 2025 This bill allows a tax deduction for bonuses received by an individual, subject to income limitations, through 2029. The amount of the deduction may not exceed 15% of the individual’s regular wages from the same employer. Further, the deduction is not allowed for individuals with annual adjusted gross income exceeding $100,000 (or $150,000 for heads of the household and $200,000 for married couples filing a joint return).
This summary may describe an earlier version. Check the official record for current wording.
Latest action
Referred to the House Committee on Ways and Means.
Sponsors
- Rep. Bacon, Don [R-NE-2]
Republican · Nebraska · House District 2 · Republican