The Next Stimulus Could Have A $4,000 ‘Vacation Credit’
There’s been so much back and forth on this. The House asked for another one-time check for $1,200 to go out to everyone, but that would have a $3 trillion price…
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There's been so much back and forth on this. The House asked for another one-time check for $1,200 to go out to everyone, but that would have a $3 trillion price tag, which Republican senators balked at.. Now, both sides of the aisle have been debating what, if any, kind of stimulus should go in the act.
The $2,000 a month free money idea didn't get far, and the idea of a payroll tax break only helps people who already have jobs. The latest idea seems to have come directly from President Trump.
Trump met with travel and industry leaders. A transcript of the meeting shows Trump proposed, "Create an 'Explore America' - that's 'Explore,' right? 'Explore America' tax credit that Americans can use for domestic travel, including visits to restaurants. That's a big deal." Here's how it would work:
There would be a tax deduction of up to $4,000 that could be applied to hotel stays during vacations - even eating at restaurants - if they happen in the next three to six months.
Also mentioned in the meeting was that the $600 unemployment bonus is definitely going to end.
The big back and forth on stimulus comes down to the amount. Democrats want to spend 3 trillion dollars. Republicans want to keep it under 2 trillion. It's likely there'll be another stimulus sometime this summer and it's almost certain that it will be the last.
