JSFiddle - React, Tailwind, and code Playground

HTML

<input type="textarea" id="textarea" value="<h1>Header Text</h><b>Bolded Text</b>">
<input type="button" id="btn" value="Click here to Extract text">

JavaScript

var testString=$("#textarea").val();
$(document).on("click", "#btn", function(){
    alert($("<div/>").html(testString).text());
});