Categories: Travel News

Senator Proposes New $4,000 Vacation Tax Credit Bill

A United States Senator has proposed a new bill that would award Americans with a $4,000 tax credit for use toward a vacation.

According to AZCentral.com, Arizona Senator Martha McSally introduced the American TRIP Act on June 22, which calls for American citizens to receive up to $4,000 in tax credit for travel within the U.S. and its territories after December 31, 2019, and before January 1, 2022.

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In the proposal, the vacation credit would increase to $8,000 for citizens who file jointly and dependent children would add another $500 each. The tax break would be retroactive to January 1.

To be eligible for the tax credit, Americans must travel at least 50 miles away from their home.

“The tourism and hospitality industries were among the hardest-hit sectors across the country and their revival is critical to our economic recovery,” Sen. McSally told AZCentral. “Arizona has lost billions in revenue this year alone due to the pandemic.”

“My legislation will help boost domestic travel and jumpstart the comeback of our hotels, entertainment sectors, local tourism agencies, and the thousands of businesses that make Arizona one of the best places in the world to visit,” McSally continued.

As part of the legislation, eligible expenses would include lodging, transportation costs and entertainment, and people who own a vacation home would still be allowed to write off all expenses, sans the mortgage.

In addition to the tax credits for travelers, the American TRIP Act would include a $50 million budget to help destination marketing organizations promote tourism as the country reopens amidst the ongoing coronavirus outbreak.

Earlier in June, the “Explore America” Tax Credit proposal circulated around Congress and the White House that would’ve Americans up to $4,000 in tax breaks for vacation expenses at hotels, theme parks and other tourism businesses through the end of 2021.

This post was published by our news partner: TravelPulse.com | Article Source

Juan Albarran

La aviación, los viajes de placer y las bellezas de mi País Venezuela me impulsaron a mostrar desde muy joven las bondades del mundo del tursimo y cómo el conocer nuevos lugares , nuevas culturas; y nuevas personas, te permiten crecer como persona adquiriendo nuevas habilidades y herramientas para alcanzar en plenitud los retos que el mundo nos presenta día a día. Nací en Mérida, Venezuela la famosa ciudad de los caballeros, fuí estudiante de la Ilustre Universidad de Los Andes, hoy tengo un nuevo hogar Washington DC, creo firmemente que el turismo es una manera de vivir y de construir una nueva sociedad dinámica y de vanguardia, a través del lente de mi camara y mi experiencia en agencias de viajes , operadores de turismo, y aerolíneas comerciales, puedo dar una pequeña muestra de lo que el mundo moderno nos ofrece. Ahora puedo reflejar mi experiencia en The Jet Set en Español. ******************************************************************************************* Aviation, pleasure trips and the beauty of my country Venezuela, inspired me to show the benefits of the world through tourism. Learning and understanding new places, new cultures, and new people allow you to grow as a person and acquiring new skills and tools help you beat and succeed at the challenges that the world presents us every day. I was born in Merida, Venezuela, the famous city of knights, I was a student at the Illustrious University of the Andes and today I have a new home in Washington DC. I firmly believe that tourism is a way of living and building a new dynamic and cutting-edge society, through the lens of my camera and my experience in travel agencies, tour operators, and commercial airlines, I can give a small sample of what the modern world offers us. Now I can reflect my experience in The Jet Set in Spanish.