Stimulus for Travel? The Explore America Tax Credit Raises More Questions Than Answers
The economic fallout from the coronavirus pandemic continues, and lawmakers in Washington trying to address the impact that lockdowns have had on certain segments of the economy. Stimulus checks helped tens of millions of Americans who'd lost their jobs as a result of the COVID-19 outbreak, but it's uncertain whether another round of broad-based financial support will get through Congress. Efforts like the HEROES Act have stalled in the Senate, where there's been more emphasis on tailored measures targeting specific industries.
One new measure would have a huge direct impact on the travel and leisure industry. The proposal, dubbed the Explore America Tax Credit, would give people a huge incentive to support restaurants, airlines, hotels, cruise ship operators, and attractions -- businesses that have taken a disproportionate hit from the pandemic. Yet with the proposal still being fleshed out, it's uncertain what the exact details will be, or whether the measure will really get people to explore parts of America that are all that far from their homes.
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Source Fool.com
