Senator Martha McSally, R-Ariz., introduced the bill, called the draft American Tax Rebate and Incentive Program Act or the “American TRIP Act,” that would provide thousands of dollars with the goal of stimulating the U.S. tourism industry.
The bill would provide for a tax credit of up to $8,000 for joint filers or up to $4,000 for individual filers, plus an additional $500 for dependent children. The bill would apply to travel for the three tax years of 2020, 2021 and 2022.
Food and beverages
Live entertainment events (including sporting events)
Expenses related to attending a conference or business meeting
All travel within the United States and its territories
The destinations must be 50 miles or more from the principal residence of the filer
Applies to trips taken between December 31, 2019, and Jauary. 1, 2022