Arizona Sen. Martha McSally wants to encourage Americans to travel with a big tax credit, Fox News reports.
The Republican senator introduced the American TRIP Act on Monday, which would give Americans a $4,000 tax credit if they take a vacation.
The tax credit is retroactive to Dec. 31, 2019 and would be in place until Jan. 1, 2022. The amount awarded to joint tax filers totals $8,000 and families can add on another $500 for dependent child.
“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 in a statement. “Arizona has lost billions in revenue this year alone due to the pandemic. My legislation will help boost domestic travel and jumpstart the comeback of our hotels, entertainment sectors, local tourism agencies, and the thousands of businesses that make Arizona one of the best places in the world to visit."
The tax credit would encourage people to spend money in industries that were crushed by the coronavirus outbreak.
Trips must take place in the U.S. and its territories for the credit to count. Vacationers must travel at least 50 miles away from their homes.
Eligible expenses include lodging, transportation costs and entertainment.
The bill also allocates $50 million to marketing organizations that promote travel and tourism across the country.
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