Americans could exclude first $10,200 of their federal unemployment payments from 2020 income taxes under a new Democratic plan

Americans could exclude first $10,200 of their federal unemployment payments from 2020 income taxes under a new Democratic plan

Jobless Americans could exclude the first $10,200 in federal unemployment benefits they received from next year's income taxes under a new Democratic plan unveiled on Tuesday.

"As we grapple with the economic consequences of this pandemic, the bill I'm proposing would provide tax relief to unemployed Americans so they can spend their benefits to support their families and their communities," Sen. Richard Durbin said in a statement.

The plan attempts to provide financial relief to workers who will owe taxes on unemployment benefits on their 2020 tax returns.

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Jobless Americans could exclude the first $10,200 in federal unemployment benefits they received from next year's income taxes under a new Democratic plan released on Tuesday.

Sen. Richard Durbin introduced legislation to omit that amount and provide additional economic