The primary purpose of this legislation, known as the Tip Tax Termination Act, is to amend the Internal Revenue Code to temporarily exempt certain tips from being taxed as income. This change aims to provide financial relief to workers in industries that rely heavily on tips, such as hospitality and food service. The key provisions of this legislation include a specific income threshold and the definition of eligible tips. Under this law, individuals can exclude up to $20,000 of eligible tips from their gross income for a period of five years.