Bills · S 2940
IN COMMITTEE· 119TH CONGRESS
Senate BillS 2940Taxation
OPT Fair Tax Act
INTRO SEP 30· LAST ACTION SEP 30
READING
2MIN
COSPONSORS
0
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed Senate
Passed House
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because it changes how a specific group of workers contributes to two critical federal programs: Social Security and Medicare. If passed, it would increase the amount of tax revenue flowing into these programs, which are facing long-term financial challenges. For many, this represents a move towards making tax contributions more uniform across different worker categories.
For F-1 students in OPT, it means less take-home pay, which could impact their financial stability while working in the U.S. It also creates a more level playing field regarding tax obligations between F-1 OPT workers and other workers in the U.S. who already pay these taxes. If the bill doesn't pass, the current exemption for F-1 OPT workers would remain in place, and they would continue not to pay into Social Security and Medicare.
KEY PROVISIONS
3AI-extractedPROVISION 01
Removes the exemption for F-1 visa holders in Optional Practical Training (OPT) from the Federal Insurance Contribution Act (FICA) taxes.
This means F-1 students in OPT would start paying Medicare taxes on their wages.
PROVISION 02
Removes the exemption for F-1 visa holders in Optional Practical Training (OPT) from the Social Security Act taxes.
This means F-1 students in OPT would start paying Social Security taxes on their wages.
PROVISION 03
Establishes that these changes will apply to services performed in calendar months beginning after the bill's enactment.
This sets the effective date for when F-1 OPT workers and their employers must begin paying these taxes.
SPONSORSHIP
1 + 0
R· Arkansas
YRS IN OFFICE
13
BILLS LED
97
ACTION TIMELINE
2 EVENTSSEP 30
Introduced in Senate
SEP 30
Read twice and referred to the Committee on Finance.
BILL INFO
TypeSenate Bill
NumberS 2940
Congress119th
StatusIn Committee
IntroducedSep 30, 2025
Last actionSep 30, 2025
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IN COMMITTEE· 119TH CONGRESS · FINANCE COMMITTEE · INTRODUCED SEP 30, 2025
Senate BillS 2940Taxation
OPT Fair Tax Act
INTRODUCED SEP 30, 2025· LAST ACTION SEP 30, 2025
PASSAGE CHANCES
—%
READING
2 min
COSPONSORS
0
COMPLEXITY
Moderate
