cheryl
Administrator
Staff member
U.S. travel industry seeks government assistance, new tax breaks to spur trips - Reuters
The coronavirus-hit U.S. travel industry on Friday asked Congress for $10 billion in federal grants to promote safe practices, new liability protections and tax credits for travelers and the industry.
The U.S. Travel Association, which represents hotels, car rental companies, American Express, airports and tourism agencies, also wants $13 billion for U.S. airports and a refundable tax credit of up to 50% of travel expenses through the end of 2022 of up to $3,000 per family.
“As the virus continues to wreak havoc on society, the situation in the travel industry is only getting worse. The industry is now on track to shrink by $1.2 trillion by the end of the year,” the group’s policy chief, Tori Emerson Barnes, told Congress. “The travel industry is facing an economic environment that is 10 times worse than the aftermath of 9/11.”
The coronavirus-hit U.S. travel industry on Friday asked Congress for $10 billion in federal grants to promote safe practices, new liability protections and tax credits for travelers and the industry.
The U.S. Travel Association, which represents hotels, car rental companies, American Express, airports and tourism agencies, also wants $13 billion for U.S. airports and a refundable tax credit of up to 50% of travel expenses through the end of 2022 of up to $3,000 per family.
“As the virus continues to wreak havoc on society, the situation in the travel industry is only getting worse. The industry is now on track to shrink by $1.2 trillion by the end of the year,” the group’s policy chief, Tori Emerson Barnes, told Congress. “The travel industry is facing an economic environment that is 10 times worse than the aftermath of 9/11.”