In an attempt to help kickstart the recovery of the tourism and lodging industries, U.S. Sen. Martha McSally has introduced a bill that would give tax credits to people who spend money on travel.
McSally, an Arizona Republican, released the details of the “American Tax Rebate and Incentive Program Act" or the “American TRIP Act” this week.
In broad strokes, the bill would give each person a tax credit up to $4,000 for travel-related expenses. For couples that file jointly. they can get a tax credit up to $8,000 and each child can get up to $500.
An eligible trip would have to be at least 50 miles from home and within the U.S. The proposed bill said it would cover almost all parts of a vacation including food, drinks, lodging, live entertainment, sporting events and transportation, including airfare, car rentals and mileage.
In a statement, McSally said this legislation will “encourage Americans to safely get out of their homes and discover or rediscover Arizona along with the rest of the amazing destinations our country has to offer after a difficult several months stuck inside.”
Read more of this subscription-only article from the Phoenix Business Journal.
