CEO DATELINE - U.S. Travel Association to push for domestic travel tax credit
CEO DATELINE - U.S. Travel Association to push for domestic travel tax credit
- January 26, 2021 |
- Walt Williams
The U.S. Travel Association is seeking a meeting with Biden administration officials to push for a new domestic travel tax credit, which the group believes can help jumpstart an industry brought to a near standstill by the COVID-19 pandemic, the news site Travel Pulse reported.
In a recent call with reporters, Dow said a tax credit for both personal and group travel would stimulate a stagnant U.S. economy. The proposed credit would allow people to deduct a certain percentage of their travel expenses from their federal income taxes, according to Travel Pulse.
Dow likened the travel industry to the U.S. automobile industry.
"It used to be said, ‘As goes General Motors so goes the U.S. economy,'" he told the news site. "As we've seen in the last nine months, as goes travel goes the U.S. economy. When people are not moving, commerce is not moving."
U.S. Travel and other observers expect leisure travel to pick up again this year as COVID-19 vaccines are distributed and public confidence grows that traveling is safe. However, business travel is expected to lag behind, with many companies reluctant to authorize employee travel during the pandemic.
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