Tourism Industry Proposing Tax Credit for Travel
One of the ways the tourism industry wants to get travel back on track is to encourage people to take vacations with a new tax incentive.
The “Explore America” Tax Credit is a new plan circulating around Congress and the White House that could give Americans up to $4,000 in tax breaks for vacation expenses at hotels, theme parks and other tourism businesses through the end of 2021.
The plan already has one big supporter, President Trump, who also owns a number of hotels and golf courses.
Lobbyists and policymakers are working on a variety of subsidies for the tourism industry, one of the hardest hit during the pandemic.
These tax credits are part of a broader stimulus bill that is beginning to take shape.
“Right now, our businesses need relief. But ultimately, we’ll need recovery,” Tori Emerson Barnes, a lobbyist for the U.S. Travel Association, told the Orlando Sentinel.