Daines Introduces Bill to Support Montana Service Workers, Eliminate Federal Tax on Tips
U.S. Senator Steve Daines introduced a bill with Senator Ted Cruz (R-Texas) to exempt tips from federal income taxation, the “No Tax on Tips Act.” “Joe Biden’s sky-high inflation has hit hardworking Americans especially hard. Providing a much-needed tax cut for working families will help offset Biden’s high prices and get people back in the workforce,”said Daines. Read the full text of the bill HERE. Daines recently joined Fox Business’ Mornings with Maria to discuss the bill, watch HERE. Background: The bill exempts “cash tips” – cash, credit and debit card charges, and checks – from federal income tax by allowing taxpayers to claim a 100 hundred