Trump Vows to End Taxes on Overtime. Here’s What It Means for Economy

Published on September 17, 2024

Former President Donald Trump pledged during a campaign rally on Sept. 12 to eliminate taxes on overtime pay for workers who clock in more than 40 hours a week. While the incentive could have some positive economic effects, it is anticipated to lower federal revenues by nearly $227 billion over the next decade, according to one analysis. Trump’s latest campaign proposal joins the growing list of measures to lower individual taxes for millions of Americans, such as eliminating taxes on tips and Social Security benefits. Vice President Kamala Harris has not introduced a similar overtime proposal, but she has pledged to abolish taxes on tipped wages....

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