H.R. 2621
REAL AMERICA Act
Plain-English summary
Reward Each American’s Labor And Make Every Rich Individual Contribute Again Act or the REAL AMERICA Act This bill establishes new federal tax deductions for cash tips and qualified overtime compensation, excludes Social Security and Tier I railroad retirement benefits from gross income for federal tax purposes, and modifies the taxation of carried interest. The bill allows individuals with a modified adjusted gross income (MAGI) of $450,000 or less ($900,000 or less for joint filers) to claim a federal tax deduction for (1) cash tips, and (2) qualified overtime compensation. The bill excludes all Social Security and Tier I railroad retirement benefits from gross income. (Currently, a portion of such benefits is included in gross income, depending on the beneficiary’s MAGI.
Deterministically condensed from the official CRS summary; verify details in the official record.
People and recorded decisions
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Official Subjects
Sources & text
Congress.gov data last updated Aug 31, 2026. Automated summaries preserve a source version and generation timestamp; human edits are explicitly recorded.