Trump's 'no tax on overtime' is now US law -- but some Americans don't even qualify. Here's the catch

[Yo_Mama_Been_Loggin]

They say that the only two certainties in life are death and taxes. The recently passed “Big Beautiful Bill,” however, claims to eliminate one of those — at least for overtime hours.

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Before you start planning how to spend all that extra cash, be aware that the new law contains several big, not-so-beautiful catches.

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To start, the Wall Street Journal (WSJ) noted that the tax break only pertains to a portion of overtime pay, or the “‘half’ of ‘time and a half pay’, required under the federal Fair Labor Standards Act.”

For example, if a worker makes $40 an hour, then their time and a half overtime would amount to $60 an hour. Of that $60, only $20 (the “half” part of “time and a half”) remains tax-free.

https://finance.yahoo.com/news/trump-no-tax-overtime-now-133000616.html

[bucolic_frolic]

1. Slick Trumpy always pulling a fast one. /nt

[markodochartaigh]

2. And, of course,

you have to be eligible for overtime and Republicans have tried to narrow the categories of workers eligible for overtime for years.