To amend the Internal Revenue Code of 1986 to establish a deduction for certain amounts received as a bonus.
Working Class Bonus Tax Relief Act of 2024
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).
Referred to the House Committee on Ways and Means.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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