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119th CONGRESS
1st Session |
To amend the Internal Revenue Code of 1986 to sunset the Federal income tax on unemployment compensation.
Mr. Thanedar (for himself, Mr. Johnson of Georgia, Mrs. Foushee, Ms. Norton, and Ms. Bynum) introduced the following bill; which was referred to the Committee on Ways and Means
To amend the Internal Revenue Code of 1986 to sunset the Federal income tax on unemployment compensation.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. Termination of tax on unemployment compensation.
(a) In general.—Section 85 of the Internal Revenue Code of 1986 is amended by striking subsection (c) and inserting the following new subsection:
“(c) Termination of inclusion in gross income.—This section shall not apply to taxable years beginning after December 31, 2024.”.
(b) Effective date.—The amendment made by this section shall apply to amounts received after December 31, 2024, in taxable years ending after such date.