HR 557 · 119th CongressIn Committeecongress.gov ↗
What this bill does
AI plain-language summaryThis bill would let people deduct bonuses from their taxes through 2029, but only if they meet certain income limits. The deduction cannot be more than 15% of their regular wages from the same employer. People cannot use this deduction if they make more than $100,000 per year, or $150,000 for heads of household, or $200,000 for married couples filing jointly.
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