U.S. lawmakers from both parties have signed on to a bill that would give tax credits to families who travel in 2021, and create tax incentives for downtrodden business sectors like hospitality, trade shows and restaurants.
The bill is sponsored by a bipartisan group of lawmakers representing Nevada, California and Illinois. Several large industry groups have endorsed the measure.
Recovery incentives for hospitality and trade shows, creating a perishable food and beverage credit for lost inventory during the coronavirus shutdowns would be included in the measure, according to the bill’s text.
As some economists forecast an upcoming pent-up demand for summer travel, the bill would provide tax credit for working and middle-class families to offset any travel costs.
Dubbed the Hospitality and Commerce Job Recovery Act of 2021, the bill was introduced alongside Republican supporters including U.S. Sen. Kevin Cramer (R-California) and U.S. Rep. Darin LaHood (R-Illinois)
The American Gaming Association, the American Hotel and Lodging Association and the National Restaurant Association have signaled their endorsement.