The U.S. tourism industry wants people to resume traveling. Soon, a proposed “Explore America” tax credit might help the industry recover. The travel industry has lost 8.1 million jobs so far and is projected to lose $519 billion due to the COVID-19 pandemic. Lobbyists are currently circulating a proposed plan in Congress that would offer $4,000 tax breaks for U.S. vacationers. The intent is to get Americans to begin traveling and spending money at hotels, theme parks and other tourism businesses.
The “Explore America” tax credit is one of several proposed subsidies that tourism industry lobbyists are pitching to policymakers as the early contours of a new economic stimulus package begin to take shape in Washington. President Trump is in favor of the “Explore America” tax credit.
The tax credit would be a great benefit even though the federal government committed trillions of dollars to stop the economic damage caused by the pandemic. However, they will have to spend even more to help pull the tourism industry back to its feet. Tori Emerson Barnes, a lobbyist for the U.S. Travel Association, went on to say:
“We are grateful to the president for hearing our call for a national effort to get Americans traveling again as the country shifts into the recovery phase.”
Some of the members of the U.S. Travel Association include the Walt Disney Co. and Comcast Corp.’s Universal Parks & Resorts. Also, Roger Dow, CEO and President of the U.S. Travel Association, issued the following statement in regards to the proposed tax credit:
“An ‘Explore America’ tax credit and campaign will do wonders to put America back on the path to prosperity. We applaud the president’s support, and with our industry’s health and safety guidance for the reopening of travel businesses in place, we are very prepared to work with the administration to push the effort forward at the right time.”
Source: www.ustravel.org
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