There is a new $4,000 stimulus offer being mention, the Explore American proposal, and this is a travel package. This package is being offered as a tax credit for domestic travel. But while this is great for travelers, is this really a great option for all people?
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25 comments
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If this is something that passes, as you mentioned, you can get some great deals! For someone like me that wants to do more travel in the US before I get into international travel, this could be great
I'll take it. Travel is becoming a hobby and this would make it easier. However, I do agree with your commentary on how there could be a better use of taxpayers money for a tax credit.
This is a swing and a miss. 2 big reason…those of us who travel for business get reimbursed. Those who don’t have a per diem they can claim per day who far exceeds $4k if they travel enough.
For those who are of lower income…those get enough credits through other means such as earned income and child tax that this tax break wouldn’t add any noticeable benefits.
Lastly….people want something tangible NOW. Hard to think about tax credits when you’re struggling to keep the electricity on.
Hard to think about traveling America when so many folks hardly have enough gas in their car to travel off their street.
Are you going to tell is who your new sponsor is? 😂😂😂
Tax payers aren't footing the bill. It's a non refundable credit. It's better than simply giving the travel industry bailout money and it forces them to still be competitive to get the money.
It is a great idea to stimulate the travel industry without a bailout.
You’re welcome, Dustin! Some very great points in here and drawbacks I didn’t even consider.
One aspect that you slightly touched on is that domestic travel would mainly be Hawaii, Florida and a few other locations so those places would end up crowded, less incentive to go, and prices would go up. So ya 50% refund which you'll have to wait but that's offset by popular places raising prices and being crowded.
Lots of homeless people in debt ready to travel and enjoy the country
Is this something that's been considered seriously in congress? There have been lots of proposals discussed that never went anywhere.
This idea though is really interesting. Once the virus dies down, I'd be glad to travel more, and getting 50% off would probably have me take more trips. I'm confused how it would effect business travel though. Would that credit go to the company or the person traveling?
I do agree that this may not be the best used of tax payer money. But the goal of this is to help out the travel industry, more so than supporting people traveling.
@wallerswallet Thanks for this video. Good points made on accessibility lacking for most Americans for this credit. BTW, nice t-shirt. Where do you get yours from?
I wish they would approve of infrastructure spending instead. Every state has roads to be fixed or needs sewer upgrades or something. Paying for these projects would employ engineers inspectors construction workers and accountants. They in turn spend money and help their economy. Having a travel credit would mostly help big hotels or airlines and it would be such a temporary benefit to the workers. Plus all wealthy people should visit Hawaii without a tax credit. There are few cases, it’s beautiful and pretty much safe. Hawaii is much much more fun without a tight budget and worrying about a tax credit
This is a great idea because it is a way to help the travel industry with out doing a bailout. This proposal will reward people and not just the airlines, cruise lines etc, like a bail out would. It also helps all other aspects of travel like gas, hotels and entertainment. This won't help everyone but it will help the travel industry and the people using them.
Rent an RV would be my move, but it’s a terrible stimulus idea
I was going to go on a cruise to Alaska before the whole Covid-19 situation. If it safe to do so next year, i will take advantage of it.
NBA@Disney would be a sweet destination if not for the lulz. What's second best? Vegas? Let's all take our stimulus to Vegas! Baby!
Thank you,, how about SSDI an SSI are we receiving checks?
Covid 19
The purpose is to stimulate the economy and encourage people to spend on travel. You do not have to fly your family across the continent. Just take your kids to a museum an hour away and that will qualify. Almost everyone can afford that… nobody is excluded! Great use of taxpayers' money!
Signed up! Had to support you man
I think it’s a good idea. I see this as a way to get people spending in the hospitality industry again. Which is the majority of the people on unemployment right now. This helps them get back to work. The 1,200 stimulus is great, but most people are saving the money.
@Waller's Wallet would you recommend 125k(150k if I can get it) Hilton points or 2 free night certificates as a amex surpass sign up bonus? Last option wait for the 130kpoints with free night but not know if it will show back up. I value your opinion so thank you.
Would love to see a MaxReward App review?
I too prefer international travel, but I do have a fair number of domestic travel that I should be taking to see some college friends. Most of us in this game are world travelers, that's our mindset.
I think the sweet spot is 50 miles(very doable), that would include the lower income people and use of the local taxes, uber, lyft, trains and buses.
I sense a trip to Kansas City! Take care Dustin and stay safe!