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This proposed bill would give Americans a $4,000 tax credit to take a vacation
Read full article: This proposed bill would give Americans a $4,000 tax credit to take a vacationIn an effort to boost the tourism industry following the coronavirus pandemic, a bill has been proposed which would provide Americans a $4,000 tax credit to take a vacation. WUSA reports Arizona Sen. Martha McSally introduced the American Tax Rebate and Incentive Program Act (TRIP) on Monday. According to the report, the bill would provide tax credits to Americans who spend money on lodging, entertainment, and other travel-related expenses. The tourism and hospitality industries were among the hardest hit sectors across the country and their revival is critical to our economic recovery, McSally said according to WUSA. According to the report, the proposed legislation would require Americans to vacation within the United States and its territories, and the destination must be beyond 50 miles from the taxpayers main residence.