Creating Real and Useful Middle-Class Benefits and Savings (CRUMBS) Act of 2018

Creating Real and Useful Middle-Class Benefits and Savings (CRUMBS) Act of 2018

This bill excludes up to $2,500 of bonus income received by an employee in 2018 from being considered taxable earnings for the purpose of determining an employee's federal tax liability. The bill defines a "bonus" as wages paid in addition to the compensation ordinarily given, required, optioned, or obligated under an employment contract.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5012 Introduced in House (IH)]

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115th CONGRESS
  2d Session
                                H. R. 5012

     To provide further tax relief for Americans receiving bonuses.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 14, 2018

  Mr. Rokita (for himself, Mr. Marino, and Mr. Babin) introduced the 
 following bill; which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
     To provide further tax relief for Americans receiving bonuses.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Creating Real and Useful Middle-
Class Benefits and Savings (CRUMBS) Act of 2018''.

SEC. 2. TAX RELIEF FOR BONUSES.

    (a) In General.--In the case of a taxable year beginning after 
December 31, 2017, and before January 1, 2019--
            (1) If an employee receives a bonus, amounts not to exceed 
        a total of $2,500 annually of bonus income shall not be 
        considered taxable earnings for the purposes of the employee's 
        Federal tax liabilities.
    (b) Definitions.--For purposes of this paragraph--
            (1) Bonus.--The term ``bonus'' means wages paid in addition 
        to the compensation ordinarily given, required, optioned, or 
        obligated under an employment contract.
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