Yes, The Next Stimulus Package Could Include $4,000 For Your Family Vacation
Don't worry, I was looking for the catch too. I guess we just need to see if it passes.
If there is another stimulus package it could include a $4,000 travel credit to jump start the nation's hospitality industry. The industry loves the idea (obviously) and so does President Trump - but can Congress be convinced?
"Create an “Explore America” — that’s “Explore,” right? Explore America tax credit that Americans can use for domestic travel, including visits to restaurants. That’s a big deal," President Trump said during a roundtable with restaurant executives and industry leaders in May. Now the idea is picking up traction.
While there was no immediate number put to the idea, Forbes has said that the amount would be $4,000 per household. The money could be used for vacation-related expenses for U.S. families such as hotels, restaurants and theme parks through 2021.
The Independent Restaurant Coalition 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.”
The credit would cover up to 50% of a household’s total vacation expenses, up to a maximum of four grand, according to Forbes.
The U.S. Travel Association said, “An ‘Explore America’ tax credit and campaign will do wonders to put America back on the path to prosperity. We applaud the president’s support.”
White House economic advisor Kevin Hassett told the Wall Street Journal that the odds of a “Phase Four” stimulus package before Congress’s August recess are “very, very high.”