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No Tax on Tips Act wins big with financial wellness and retention

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It’s not everyday that you read about the U.S. Senate unanimously passing a bill. But May 20, 2025 wasn’t a regular day as the Senate passed the much-talked about No Tax on Tips Act. It’s part of a bipartisan effort to completely eliminate federal income taxes from tips for millions of service workers. The bill was spearheaded by Senator Jacky Rosen and co-sponsored by Senator Ted Cruz. Officially known as Senate Bill 129, it earned a 100-0 approval and is now awaiting House approval. It’s part of the broader “One Big Beautiful Bill” and also include No Tax on Overtime

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