Big changes are ahead for Americans if the Trump-backed bill becomes law. Republicans are trying to pass it by a self-imposed July 4 deadline.

New tax breaks on tip income and overtime pay will go into effect in 2025, part of the megabill that President Trump signed into law on July 4. But some workers may not see any benefit.

President Donald Trump's no tax on tips and overtime pay policy was one of his most popular pledges during the 2024 election campaign, and lawmakers in Congress are working to make his plans a ...

Putting aside potentially confusing details for tax filers, there is also the question of whether No Tax on Tips would lead to less pressure on employers to raise wages — not more.

The U.S. Senate unanimously passed the "No Tax on Tips Act," a bipartisan bill that would exempt up to $25,000 in cash and non-cash tips from federal income taxes for eligible workers.

Indiana Rep. Erin Houchin showcases President Donald Trump's "No Tax on Tips" policy with restaurant workers, exploring how the One Big Beautiful Bill aims to help middle-class Americans keep more ...

Rep. Erin Houchin discusses Trump's "No Tax on Tips" policy in a White House video, highlighting how the One Big Beautiful Bill Act would benefit working-class Americans and business owners.

Here are key points to keep in mind: The "no tax on tips" provision is structured as a temporary deduction (2025-2028), not a full exclusion of tips from taxable income.

The Senate proposed a “no tax on tips” plan that differs in a few ways from one advanced in May by House Republicans.

New tax breaks on tip income and overtime pay will go into effect in 2025, part of the megabill that President Trump signed into law on July 4. But some workers may not see any benefit.

Nixing federal income taxes on overtime and tipped income was one of the president's top policy promises during his 2024 election campaign.