Mary Fallin Introduces Legislation To Exempt Overtime Pay From Income Taxes
Washington, DC — U.S. Rep. Mary Fallin, R-Oklahoma City, introduced legislation yesterday that would exclude overtime pay from gross income, making it exempt from the federal income tax. The bill immediately attracted several cosponsors and has been endorsed by Americans for Tax Reform.
After the bill’s introduction, Fallin released the following statement:
“This bill would help to ensure that those who work the hardest get taxed the least. Exempting overtime pay from the federal income tax will reward hard work and help families save money. At a time when Americans are struggling to cope with rising gasoline prices and spiraling healthcare costs, the need to reduce their tax burden is obvious.
