The American Society of Travel Advisors (ASTA) continues to fight for the best interest of its members on Capitol Hill, supporting the reinstatement of the Employee Retention Tax Credit (ERTC).
Carol Miller (R-WV) and three other members of Congress will introduce the Employee Retention Tax Credit Reinstatement Act to restore the ERTC through the end of the year as originally intended.
The ERTC was created with the Coronavirus Aid, Relief and Economic Security (CARES) Act in April 2020 in order to help businesses retain employees via a credit available through December 2021.
With the passage of the Infrastructure Investment and Jobs Act on November 15, 2021, the date was moved up to September 30, 2021.
ASTA, alongside members of Congress, are expressing their support for the passage of this Employee Retention Tax Credit Reinstatement Act to extend the credit through its original deadline of December 31.
"ASTA strongly supports the Employee Retention Tax Credit Reinstatement Act and commend Representatives Miller, Murphy, Hern and Sewell for their leadership and for recognizing that, for many businesses, the pandemic is far from over," said Eben Peck, executive vice president, advocacy for ASTA. "We hope that Congressional leadership recognizes this as well and ensures that any legislation moving through Congress before the end of the year incorporates their bill.
"Travel agencies and others who continue to be impacted by COVID have been counting on this support in the 4th quarter as they plan to bring back furloughed staff and start to rebuild their businesses," added Peck. "Terminating the credit early means fewer employees back on the payroll. With PPP having long since run dry, the ERTC is the only game in town for industries like travel that face a long COVID recovery window."
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