The “Explore America Tax Credit” - up to $4,000

[Anonymous]

"The initial proposal includes a tax credit of up to 50 percent of a household’s spending on expenses including airfares, car rentals, hotels, theme parks, and restaurants. It would apply to eligible expenses in 2020 and 2021 and would be capped at $4,000 per household."

The “Explore America Tax Credit” Could Reward Americans Up to $4,000 for Dining Out and Traveling Do... 

[Remedios]

Oh Snippy bout to lose her 💩 in huge volume 

While I'd greatly benefit, those who need the most help, probably arent traveling or dining out. 

I'm gonna need some valerian tincture to calm down. 

[Anonymous]

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@Remedios wrote:

Oh Snippy bout to lose her 💩 in huge volume 

While I'd greatly benefit, those who need the most help, probably arent traveling or dining out. 

I'm gonna need some valerian tincture to calm down. 

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No wait...post first....I'll go make some popcorn....

[Anonymous]

I don't know if it's possible to discuss this without venturing too far into the "no politics" rules..

I say that because the nature of this tax credit is pretty much a handout to those who aren't necessarily in need of it. Before you grab the pitchforks, be aware that I'm counting myself in that- I wouldn't max out this $4000 credit but could put a solid dent into it and basically have a lot of my eating out and maybe a vacation for free. Even at an income in the low $50k, I can recognize that this does not help those in need and likely escalates national debt on something relatively trivial compared to health, education, and other national priorities.

[Anonymous]

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@Anonymous wrote:

I don't know if it's possible to discuss this without venturing too far into the "no politics" rules..

I say that because the nature of this tax credit is pretty much a handout to those who aren't necessarily in need of it. Before you grab the pitchforks, be aware that I'm counting myself in that- I wouldn't max out this $4000 credit but could put a solid dent into it and basically have a lot of my eating out and maybe a vacation for free. Even at an income in the low $50k, I can recognize that this does not help those in need and likely escalates national debt on something relatively trivial compared to health, education, and other national priorities.

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I think this is a perfectly reasonable opinion. I agree.

[Anonymous]

I personally believe this does help some that are truly in need....not the household that can still actually afford to travel/vacation, but the businesses that will benefit from encouraging travel within the US.  This is meant to help stimulate economy.....restaurants, hotels/motels, theme parks, etc.  If these businesses are able to get relief with increase in business, then more workers will be needed, less lay offs and less businesses going under and closing the doors for good.  Many other sectors will be helped as well...oil/gas, etc.   Just my opinion the way I understand it’s intent. ✌🏻

ETA:  this will not only stimulate businesses that would qualify as a travel expense, but think about the possibilities for so many other businesses that have been shut down that will benefit.  Heck, not many women out there are going on vacation without new shoes, a new outfit....or two or three or four.  Certainly not going without getting their hair done....manicure, pedicure.  Buying the kids new clothes, their  husband new shorts, etc.  While I agree, when first read it does seem like why are those that can afford the luxury of travel getting the breaks?  I liken it to raffles, fundraisers and the like.  If a school or church or some other fundraiser is looking for donations with a sign up asking for donations, not many people stop to drop $10 bucks in the pot.  Take that same fundraiser and offer raffle tickets for a Yeti cooler, flat screen tv....bake sale, car wash?  Then many more people feel what the heck, I’m getting something for my donation so I’ll open the wallet.  Those with extra discretionary spending during these times may just open up their wallets for the tax break to travel in the US right now to help jump start these businesses, these workers who need it so badly.  I’m rambling now...😁

[Anonymous]

While definitely a nice credit, for those who can manage to utilize it. I'm not entirely sure if their timing is a bit off, or if it's simply a late April fools joke.  Traveling within the next year is going to be sketchy IMO, especially if there's "second wave" as predicted or it returns in full next winter! 

What good is traveling if you have to be quarantined for several days of your vacation depending on the City, or 1/2 the local shops, sites or attractions are closed? Etc.

[iced]

This does seem a little odd to me. I make too much for $1,200 but no problem handing me $4,000?

The only argument I can see on this is that it's at least one way to ensure the only rich people being paid are those who actually spent money (because they would have overwhelmingly not spent $1,200 had they got it), even if it was on luxury travel and dining....and that's a pretty weak argument.

[Anonymous]

@Anonymous  I agree absolutely 100% with you on this....I personally am not going anywhere and remain steadfast on keeping safe distances from others, and yes I’m one of those still wearing masks/wearing gloves...washing my hands so much I feel like they are about to fall off!  My comments above are just my take on the intent of the travel tax breaks.  

[ChargedUp]

This is definitely thinking outside the box.

I believe the whole concept is to get people eating out and utilizing the travel industry (which has taken a massive hit this year.) Looking at the amount of cash being infused to just the airline industry, if this was to pump spend into the foresaid industries, it very well could prevent further layoffs and hopefully some rehiring and also prevent the need for further commercial "bail outs" This also would help small restaurants owners in keeping their doors open. I don't look at this as a "give away" so to speak, but as a means to direct and encourage discretional spending into industries that could certainly use a boost.

While I am working out of town, and even throughout the Corona chaos I've been trying to patronize small business when and where possible which has included a lot of take out food. While the Feds have currently cut off a lot of itemized deductions I used to make a lot of use of, this would certainly help in recouping some of that spend. I could certainly max this out just on restaurant spend if I wanted to.
(and make a LOT of MR's & UR's in the process! )