Uncategorized|Political
Under President Donald Trump’s administration, the Senate unanimously passed the No Tax on Tips Act on May 20, 2025. The legislation would exempt up to $25,000 in tips from federal income tax for eligible workers, with some limitations. To qualify for the tax deduction, workers must have earned less than $160,000 for the 2024-2025 tax year. If the bill becomes a law, this limit will be indexed for inflation. Bill S.129, introduced by Sen. Ted Cruz in January, creates a federal income tax deduction for workers in occupations that traditionally receive tips. Individuals working as waiters, barbers, or delivery drivers
June 05, 2025