WASHINGTON D.C. (KOLO) – U.S. Senators Catherine Cortez Masto and Jacky Rosen have introduced a bill that would exempt tips from federal income taxes.
It was a policy proposal first introduced by President-elect Donald Trump in the leadup to the 2024 Election.
The No Tax on Tips Act exempts, cash, credit and debit card charges, and checks from federal income taxes by allowing taxpayers to claim a 100% deduction at filing for tipped wages.
“Nevada’s service and hospitality workers are the backbone of our economy, and they deserve financial relief at a time when they are getting squeezed by rising costs,” said Senator Rosen. “This bipartisan bill will ensure tipped workers in Nevada can keep more of their hard-earned money. I’ll also keep fighting to raise the minimum wage and eliminate the subminimum wage for service employees, lower costs, and cut taxes for all hardworking Nevadans.”
“Working families in Nevada deserve a break, and this bipartisan bill will put more money in their pockets.,” said Senator Cortez Masto. “This is one part of my comprehensive work to lower costs for working families and deliver for Nevadans across the state.”
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