,,ii  #aaith ,,congress  #ast ,session  
,s4 #afjf  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,may #f1 #bjbe 
,mr4 ,marshall 7for himself1 ,mr4       
,tuberville1 ,mr4 ,ricketts1 and ,mr4   
,justice7 introduced the following bill2
 which was read twice and referred to   
the ,committee on ,finance  ,a ,,bill   
,to amend the ,internal ,revenue ,code  
of #aihf to establish a deduction for   
certain overtime payments4  #a4  ,short 
title  ,this ,act may be cited as the   
,overtime ,wages ,tax ,relief ,act4  #b4
  ,deduction for overtime compensation  
7a7  ,in general  7#a7  ,deduction      
allowed  ,part ,,vii of subchapter ,b of
 chapter #a of the ,internal ,revenue   
,code of #aihf is amended by            
redesignating section #bbd as section   
#bbe and by inserting after section #bbc
 the following new section3  #bbd4      
,overtime compensation  7a7  ,in general
  ,there shall be allowed as a deduction
 an amount equal to so much of any      
overtime compensation received by an    

individual as does not exceed #aj1jjj   
7#bj1jjj in the case of a joint return7 
for the taxable year4  7b7  ,limitation 
,the amount of the deduction allowable  
under subsection 7a7 shall be reduced   
7but not below zero7 by #ej for each    
#a1jjj 7or fraction thereof7 by which   
the taxpayer's modified adjusted gross  
income exceeds #ajj1jjj 7#bjj1jjj in the
 case of a joint return74 ,for purposes 
of the preceding sentence1 the term     
modified adjusted gross income means    
adjusted gross income increased by any  
amount excluded from gross income under 
section #iaa1 #ica1 or #icc4  7c7       
,overtime compensation  ,for purposes of
 this section1 the term overtime        
compensation means compensation that is 
paid to a taxpayer--  7#a7 at a rate of 
not less than one and one-half times the
 regular rate at which the taxpayer is  
employed1 and  7#b7 for work for a      
single employer that is in excess of a  
maximum number of hours of such work for
 a specified period of time as required 

pursuant to--  7,a7 section #g of the   
,fair ,labor ,standards ,act of #aich1  
or  7,b7 an agreement that-- 7i7 is a   
collective bargaining agreement or an   
agreement or understanding arrived at   
between the employer and the employee   
before performance of the work1 and     
7ii7 provides that such maximum number  
of hours for a specified period of time 
is not less than #dj hours for a #g-;day
 work period4  7d7  ,regulations  ,the  
,secretary shall provide such           
regulations or other guidance as may be 
necessary to carry out this section4  4 
7#b7  ,conforming amendment  ,the table 
of sections for part ,,vii of subchapter
 ,b of chapter #a of such ,code is      
amended by redesignating the item       
relating to section #bbd as relating to 
section #bbe and by inserting after the 
item relating to section #bbc the       
following new item3  ,sec4 #bbd4        
,overtime payments4  4  7b7  ,deduction 
allowed to non-,itemizers  ,section     
#fc7;b7 of the ,internal ,revenue ,code 

of #aihf is amended by striking and at  
the end of paragraph 7#c71 by striking  
the period at the end of paragraph 7#d7 
and inserting and1 and by adding at the 
end the following new paragraph3  7#e7  
the deduction provided in section #bbd4 
4  7c7 ,non-,application of certain     
limitations for itemizers  7#a7         
,deduction not treated as a             
miscellaneous itemized deduction        
,section #fg7;b7 of the ,internal       
,revenue ,code of #aihf is amended by   
striking and at the end of paragraph    
7#aa71 by striking the period at the end
 of paragraph 7#ab7 and inserting 1 and1
 and by adding at the end the following 
new paragraph3  7#ac7 the deduction     
under section #bbd 7relating to overtime
 compensation74  4  7#b7  ,deduction not
 taken into account under overall       
limitation  ,section #fh7;c7 of the     
,internal ,revenue ,code of #aihf is    
amended by striking and at the end of   
paragraph 7#b71 by striking the period  
at the end of paragraph 7#c7 and        

inserting 1 and1 and by adding at the   
end the following new paragraph3  7#d7  
the deduction under section #bbd        
7relating to overtime compensation74  4 
7d7  ,reporting  ,section #fjea7;a7 of  
the ,internal ,revenue ,code of #aihf is
 amended by striking and at the end of  
paragraph 7#af71 by striking the period 
at the end of paragraph 7#ag7 and       
inserting 1 and1 and by inserting after 
paragraph 7#ag7 the following new       
paragraph3  7#ah7 the total amount of   
overtime compensation as defined in     
section #bbd7;b74  4  7e7  ,withholding 
,the ,secretary of the ,treasury 7or the
 ,secretary's delegate7 shall modify the
 tables and procedures prescribed under 
section #cdjb7;a7 of the ,internal      
,revenue ,code of #aihf to take into    
account the deduction allowed under     
section #bbd of such ,code 7as added by 
this ,act74  7f7  ,effective date  ,the 
amendments made by this section shall   
apply to taxable years beginning after  
,december #ca1 #bjbe4