Proposed Bill Gives You $4,000 Tax Credit for a Vacation
After spending months at home trying to social distance many people are itching to get outdoors and would love to go on a family vacation. To try and make some memories and enjoy time together after losing that option due to the unexpected COVID-19 pandemic. If one Senator has her way each American would have the ability to take advantage of a tax credit of up to $4,000 to boost the tourism and hospitality industries that have been hit extremely hard.
We got the details from 9 News, and the bill proposed would provide tax credits to Americans who spend money on lodging, entertainment, and other expenses related to travel as long as it was done in the United States and its territories. It would include $4,000 for individuals, $8,000 for join tax filers, and add an additional $500 per dependent child that would last until January 1, 2022.
The other stipulation on this tax credit is that you would need to vacation at least 50 miles away from your home for the expenses to count toward this proposed bill.
As soon as this was announced as a proposed bill you saw lots of reactions online most describing how a $4,000 to $8,000 vacation was out of the question because so many people have been without work most families are just trying to survive let alone think about a vacation right now.
Also at this time, there are not many places that are open to welcome in tourists so this would need to be on hold for a while. But if this bill is approved, where would you want to go on vacation?