A Republican budget bill would expire some of President Donald Trump's key campaign promises on lowering taxes before he leaves office.
The GOP budget, which Trump has referred to as "one big beautiful bill," included tax exemptions for tips and overtime wages.
"There shall be allowed as a deduction an amount equal to the qualified tips received during the taxable year," the bill stated.
A qualified tip was deemed to be "any cash tip received by an individual in an occupation which traditionally and customarily received tips on or before December 31, 2024."
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Overtime wages were also set to be exempted from taxation for a limited time.
The exemptions for tips and overtime would expire on Dec. 31, 2028, just a month before Trump is legally required to relinquish his office.
Exempting taxes on tips, overtime, and Social Security were promises Trump made during his 2024 campaign. It was not immediately clear if the Republican budget would include no taxes on Social Security.
