Tag: Credit

COVID-19 $4,000 Vacation Credit: How Much Money Would You Get?


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How much would you receive in the second round of stimulus payments?

President Donald Trump proposed last month that Americans should receive a vacation tax credit of up to $4,000 for domestic travel as a way to provide economic stimulus amid the ongoing coronavirus pandemic. Trump suggested the government could reimburse vacationers for spending at U.S. hotels, theme parks, restaurants and more through the end of 2021, Forbes reported.

So how much could you stand to benefit if such a tax credit were enacted?

Trump’s remarks came during a roundtable discussion with restaurant industry leaders in May. “…Create

Americans Will Receive $4,000 ‘Vacation Credit’ Under Trump Proposal

Donald Trump discussing the upcoming ‘Phase 4’ stimulus plan at the White House, June 17th.

Americans would unilaterally receive a $4,000 ‘vacation credit’ for US-based airfare, lodging, restaurants, and other travel-related expenses under a recently-revealed Trump stimulus proposal. The credit, part of an estimated $2 trillion stimulus boost, may also apply to artists and musicians touring the United States.

The proposal, first discussed by Donald Trump during a White House Roundtable in May, is designed to encourage Americans to hop onto airplanes, stay at hotels, and enjoy vacations while enjoying a sizable credit on their taxes.  According to Forbes,