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Proposed “Explore America” Tax Credit Would Grant Up To $4,000 Per Household For Travel
Posted on 6/12/20 at 3:38 am
Posted on 6/12/20 at 3:38 am
WDW News Today
quote:
If you’re yearning to plan a trip this year, but find that finances are tight after the pandemic, the U.S. tourism industry may just come to the rescue. Industry lobbyists in hotel, theme park, and other tourism sectors are lobbying for a plan that would provide travelers with $4,000 in tax breaks for their upcoming vacations.
quote:
According to
Jason Garcia of the Orlando Sentinel, the plan already has received strong support from President Donald Trump. These subsidies would benefit hotel, theme park, and tourist companies, boosting revenue at a time when people are either wary of travel or see the new restrictions and guidelines as cumbersome.
quote:
Tori Emerson Barnes, a lobbyist for the U.S. Travel Association, whose members include the Walt Disney Co. and Comcast Corp.’s Universal Parks & Resorts, spoke to the Sentinel on the current state of the travel industry:
“Right now, our businesses need relief. But ultimately, we’ll need recovery.”
With increased travel to theme parks, worker’s unions are also fighting to preserve the safety of front-line employees, with new conditions that include better job security, wages, and paid sick time, according to Wendi Walsh of UNITE HERE, which represents thousands of Cast Members at Walt Disney World.
“We really need to move from incentives to requirements to get these companies to do the right things.”
quote:
Orlando was one of the hardest-hit cities in Florida with the shutdown of the theme parks due to COVID-19. The unemployment rate in metro Orlando was 16.2% in April, with a number of theme park employees struggling with the overburdened unemployment benefits system.
As for the “Explore America” tax credit, lobbyists are still working alongside Congress officials and the Trump administration on the details of the plan, possibly capping the credit at $4,000 per household for travel expenses through the end of 2021.
Posted on 6/12/20 at 7:21 am to AUFan2015
I mean, this does sound like a free ski trip.
This post was edited on 6/12/20 at 7:25 am
Posted on 6/12/20 at 7:22 am to Hat Tricks
Maybe I don't fully understand it, but it sure seems like a better idea than corporate bailouts or another round of checks to everyone
Posted on 6/12/20 at 7:37 am to AUFan2015
It’s just a tax credit. It’s not like they are giving you $4000 to take a vacation.
Posted on 6/12/20 at 8:34 am to AUFan2015
When the general public gets $4000 and rents an RV for the summer road trip...
This post was edited on 6/12/20 at 8:35 am
Posted on 6/12/20 at 8:56 am to AUFan2015
Great---yet another thing to make taxes even more complicated. I'd rather see a front-of-the-form credit for charitable giving, frankly.
Posted on 6/12/20 at 10:19 am to BigB0882
quote:
It’s just a tax credit. It’s not like they are giving you $4000 to take a vacation.
Symantics, in reality you're getting 4,000 to travel that would have been payed to government.
Posted on 6/12/20 at 10:53 am to RogerTheShrubber
On one hand the government takes too much of my money and excludes us from most of these kickback stimulus schemes. So I'd take it.
On the other hand, we all generally acknowledged that the shutdown crushed one industry, at least purportedly to our universal benefit, and that's something I'm actually willing to fund with my taxes
So maybe I just talked myself into this proposal and it accomplished both
On the other hand, we all generally acknowledged that the shutdown crushed one industry, at least purportedly to our universal benefit, and that's something I'm actually willing to fund with my taxes
So maybe I just talked myself into this proposal and it accomplished both
Posted on 6/12/20 at 10:57 am to BigB0882
quote:
It’s just a tax credit. It’s not like they are giving you $4000 to take a vacation.
You do realize this is a credit and not a deduction?
The money will be added to your federal refund or be deducted from the amount you owe for federal taxes.
Posted on 6/12/20 at 9:13 pm to Pettifogger
quote:
On the other hand, we all generally acknowledged that the shutdown crushed one industry, at least purportedly to our universal benefit, and that's something I'm actually willing to fund with my taxes
It's really hurting us, but I doubt the travel credit would help much with a third of the summer already gone. Other areas will love it
Posted on 6/13/20 at 7:18 am to AUFan2015
quote:
UNITE HERE, which represents thousands of Cast Members at Walt Disney World.
goofy and the little mermaid have a union?
Posted on 6/14/20 at 10:30 am to Pettifogger
quote:
On the other hand, we all generally acknowledged that the shutdown crushed one industry, at least purportedly to our universal benefit, and that's something I'm actually willing to fund with my taxes
It has crushed many many industries and businesses. I would be much more in favor of a small business spending plan / tax incentive program.
Posted on 6/15/20 at 8:30 am to AUFan2015
This sounds like a sneaky way to bail out the airlines.
Posted on 6/15/20 at 2:46 pm to HollierThanThou
quote:
You do realize this is a credit and not a deduction? The money will be added to your federal refund or be deducted from the amount you owe for federal taxes.
I'm good with that as long as its a non-refundable credit.
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