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Domestic Travel & Tax Relief
The United States has recently announced The Explore America Tax Credit that is aimed at providing tax relief, proposed at $4,000 per household, for Americans to go back to restaurants and domestic travel.
The Independent Restaurant Coalition(opens in a new tab) said, “We are grateful that President Trump and Congress are taking the concerns of our industry seriously and look forward to working together to ensure our businesses can survive this crisis and our employees can get back to work.”
While the Explore America Tax Credit is still being reviewed by Congress and President Trump’s administration, the initial proposal is a tax credit of up to 50 percent of a household’s spending on expenses including airfares, car rentals, hotels, theme parks, and restaurants.
The tax credit would be up to $4,000 per household and it would apply for eligible expenses in 2020 and 2021.
Tourism will return but little by little. The focus on domestic travel from government-funded support(opens in a new tab) will get the ball rolling again before international travel can fully rev back up.
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