OH MY: A new GOP bill would give each taxpayer $4,000 to take a vacation anywhere in the US through the end of 2021.

  • A new bill from GOP Sen. Martha McSally would encourage people to travel around the US by effectively paying them $4,000.
  • The nonrefundable tax credit could be applied through the end of 2021, and the trip must be 50 miles beyond a person’s “principal residence.”
  • But experts said low-income people would likely be left out of the plan.
  • Others said it may not be a good idea to encourage travel during a pandemic.

A new Republican bill would give each American $4,000 to take a vacation anywhere in the US through the end of next year.

Sen. Martha McSally unveiled the proposal on Monday, called the American Tax Rebate and Incentive Program Act, or the American TRIP Act. It would give each person a tax credit, meaning they would have to apply to write off up to $4,000 in travel-related expenses in tax forms.

That threshold would be doubled to $8,000 for couples and add $500 per child for all travel within the US to cover food, drinks, lodging, live entertainment, and transportation, including airfare and car rentals.

www.businessinsider.com/taxpayer-vacation-credit-gop-bill-mcsally-tax-domestic-stimulus-travel-2020-6

“The welfare state is the oldest con game in the world. First you take people’s money away quietly, and then you give some of it back to them flamboyantly.” — Thomas Sowell

 

AC