Trump says he would end all taxes on overtime pay at first post-debate rally

Trump says he would end all taxes on overtime pay at first post-debate rally
By: cnbc Posted On: September 13, 2024 View: 88

Republican presidential nominee, former U.S. President Donald Trump, speaks during a campaign event at the Linda Ronstadt Music Hall on September 12, 2024 in Tucson, Arizona. 
Justin Sullivan | Getty Images

Former President Donald Trump said at a campaign rally Thursday that he would eliminate taxes on overtime pay if he wins a second term in November.

"I'm also announcing that as part of our additional tax cuts, we will end all taxes on overtime," he said in Tucson, Arizona.

"That gives people more of an incentive to work. It gives the companies a lot — it's a lot easier to get the people," he added.

Trump said that when workers are past 40 hours a week, "your overtime hours will be tax free."

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The Trump campaign did not immediately respond to a request for details about the plan, and the Harris campaign did not immediately provide a comment on Trump's pledge.

Trump made the comments at his first rally since Tuesday's debate against Vice President Kamala Harris, an event that drew more than 67 million viewers, according to Nielsen — a far larger audience than the Arizona crowd to which Trump unveiled his proposal.

The 1938 Fair Labor Standards Act created a 40-hour workweek and overtime pay standards, as well as the right to a minimum wage. The law stipulated that workers covered by the law must get at least 1.5 times their regular pay rate for overtime hours.

The Biden administration implemented a rule this summer that raised the minimum salary threshold to qualify for time-and-a-half pay, which advocates said is helping improve compensation for lower-paid workers.

Trump in June called to end taxes on tips, with Harris following suit last month.

Separately, the Harris campaign has pushed for expanding the Child Tax Credit "to provide a $6,000 tax cut to families with newborn children," according to its website, which adds that Harris is "committed to ensuring no one earning less than $400,000 a year will pay more in taxes."

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