The Treasury Department has released a preliminary list of 68 jobs that could benefit from President Trump’s new tax policy on tipped wages. The One Big Beautiful Bill Act, which was passed by Congress this summer, eliminates the requirement for workers to pay taxes on tips. This move is intended to provide relief to working Americans, particularly those in sectors such as food and beverage services, entertainment, hospitality, and transportation.
The Treasury Department outlined the 68 jobs that are expected to qualify for the ‘No Tax on Tips’ provision under the megabill. These include roles such as bartenders, wait staff, chefs, and other workers in the food and beverage industry. The entertainment sector, encompassing musicians, dancers, and performers, will also see benefits. Hospitality workers such as bellhops and concierges are included, as are home service professionals like electricians and plumbers.
The policy has sparked discussions about its financial implications for the economy. Treasury Secretary Scott Bessent has emphasized the potential for real wage increases due to reduced tax burdens. While the policy has bipartisan support, with Democratic senators like Jacky Rosen backing the No Tax on Tips Act, the broader implications of the tax cut are anticipated to have a significant impact on the overall financial landscape.
As the Treasury Department prepares for an official list of eligible jobs and invites public comment, the rollout of this policy marks a significant step in the ongoing debate over tax reform in the United States. The implementation of the ‘No Tax on Tips’ provision may lead to long-term effects on both the economy and the labor market, influencing how workers earn and manage their income.