by Lacey Pfalz
Last updated: 12:40 PM ET, Mon April 15, 2024
The American Hotel & Lodging Association (AHLA) is encouraging the hospitality industry to support the Tax Relief for American Families and Workers Act today with an industry-wide Tax Day of Action to prompt the Senate to support the bill.
The bill, also named H.R. 7024, would extend tax relief for hotels that would encourage new investments and employee hiring. The bill passed the House of Representatives in January, 2024 with a bipartisan vote and is pending within the Senate.
If passed, properties could receive anywhere from tens of thousands of dollars to several million dollars in tax relief. It would also extend 100 percent of bonus depreciation through the end of next year and extend the child tax credit.
The AHLA is encouraging hoteliers to take action and write 2,000 letters to Congress in support of the bill. A month ago, the AHLA and several other associations banded together with over 75 hospitality groups to send a letter to Congress advocating for the bill to pass.
“Small business hoteliers and employees are facing significant hurdles to growth, including persistent inflation, a nationwide workforce shortage, and an aggressive federal regulatory agenda,” said AHLA Interim President & CEO Kevin Carey. “America’s hotels need help navigating these economic headwinds, and on this Tax Day of Action we call on senators to listen to AHLA’s 30,000 plus members and swiftly pass the Tax Relief for American Families and Workers Act.”
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