President Donald Trump came under immense pressure

The No Tax on Tips Act, a provision under OBBB that will allow tipped workers to deduct up to $25,000 from their taxable income, has been passed by the US Senate.

This is expected to provide direct financial relief to millions of Americans who are part of the service industry.

This bill is popular among workers, especially those who work in hospitality, but just like the overtime deduction, it isn’t technically a true tax cut but a targeted deduction that favors some groups over others.

Continue reading…