This bill proposes to permanently end the federal income taxation of unemployment compensation. It achieves this by amending Section 85 of the Internal Revenue Code of 1986 , which currently requires unemployment benefits to be included in an individual's gross income for tax purposes. The legislation specifies that this section will no longer apply to taxable years beginning after December 31, 2024 . Consequently, all unemployment compensation received after this date, in taxable years ending after this date, would be exempt from federal income tax, providing financial relief to recipients.