Tourism Industry Proposing Tax Credit for Travel

One of the ways the tourism industry wants to get travel back on track is to encourage people to take vacations with a new tax incentive.

The “Explore America” Tax Credit is a new plan circulating around Congress and the White House that could give Americans up to $4,000 in tax breaks for vacation expenses at hotels, theme parks and other tourism businesses through the end of 2021.

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The plan already has one big supporter, President Trump, who also owns a number of hotels and golf courses.

Lobbyists and policymakers are working on a variety of subsidies for the tourism industry, one of the hardest hit during the pandemic.

These tax credits are part of a broader stimulus bill that is beginning to take shape.

“Right now, our businesses need relief. But ultimately, we’ll need recovery,” Tori Emerson Barnes, a lobbyist for the U.S. Travel Association, told the Orlando Sentinel.