Additionally, “no tax on overtime” is a federal income-tax change only. State and local income taxes still apply (unless your state separately conforms), and Social Security and Medicare taxes are still withheld on all wages, including overtime.

President Donald Trump’s tax and spending law will result in less income for the poorest Americans while sending money to the riches, according to a new report from the nonpartisan Congressional Budget Office.

President Donald Trump’s tax and spending law will deal a financial blow to the poorest Americans while boosting the income of wealthier households, according to a new analysis from the Congressional Budget Office.