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New Income Tax Deductions for Tax-Free Tips and Overtime
In July 2025, President Trump signed a large tax and spending package into law. Among the many new additions to the tax code are two income tax deductions for tip and overtime income. Both are available from 2025 to 2028. This brief provides an overview of these new provisions, their economic and budgetary effects, and recommendations for Congress when they expire.
There is no principled reason to treat income from overtime or tips differently from any other labor income. Narrow carve-outs shrink the tax base, treat similar taxpayers differently, complicate compliance, and increase the economic costs of the income tax. A broad-based, low-rate tax system that eliminates provisions such as the new deductions for tips and overtime would impose fewer unnecessary economic costs and promote equal treatment under the law.
There is no principled reason to treat income from overtime or tips differently from any other labor income. Narrow carve-outs shrink the tax base, treat similar taxpayers differently, complicate compliance, and increase the economic costs of the income tax. A broad-based, low-rate tax system that eliminates provisions such as the new deductions for tips and overtime would impose fewer unnecessary economic costs and promote equal treatment under the law.
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