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Vacation tax credit could be coming to Americans
The U.S. Travel Association is pushing for a new tax incentive called the Explore America tax credit as part of a new stimulus bill. It would allow a tax credit for up to 50 percent of travel expenses, including airfare, dining, theme parks and hotels up to $4,000 per household.
ORLANDO, Fla. - The U.S. Travel Association is pushing for a new tax incentive called the Explore America tax credit as part of a new stimulus bill.
It would allow a tax credit for up to 50 percent of travel expenses, including airfare, dining, theme parks and hotels up to $4,000 per household.
The credit would be appliable through 2021, according to the U.S. Travel Association.
Orlando travel industry experts say it would provide a boost to the area's tourism sector.
"It's looking like it's going to be a pretty good credit if it does actually go through," said travel agent John Morrison. "Anything over $50 would qualify as long as it's travel-related.
President Donald Trump expressed support for the proposal during a roundtable discussion last month.
However, it's unclear if the measure has been proposed in the U.S. House or Senate.
According to the U.S. Travel Association, there has been a $400 billion decline in travel spending in the United States this year.
Morrison said the interest in traveling to Central Florida has been sparse.
If the proposal does happen, getting people to visit Central Florida would be the next challenge.
"Infections are still kind of high. People are still worried about contracting the virus," he said. "Trying to get people back into the state is the key thing. Hopefully we can get people to spend that money here."