#TSRPolitics: The House is debating a new bill that could temporarily eliminate federal taxes on tips and overtime pay from 2025 to 2028 — but only for certain workers and up to a capped amount. ___________________________________ During a debate on provisions, GOP lawmakers discussed initiatives from President #DonaldTrump’s campaign specifically focused on tax cuts. If you’re a server, barber, nail tech, or hairstylist, you may be able to deduct up to $25,000 in tip income from your taxable income, as long as the tips are voluntarily given and you earn less than $150K a year. However, it’s important to note that a deduction does not mean a cash-back return; instead, it reduces your taxable income, which in turn lowers your tax liability. ___________________________________ Rep. #TomSuozzi (D-NY) said in today’s hearing: “This bill picks winners and leaves too many behind. If we really want to help working people, let’s not forget gig workers, freelancers, and teachers working two job...