Second stimulus check: is there an additional payment to the $4,000 Travel Tax Credit?
Congress and the White House are working on proposals to issue a second round of stimulus payments to boost the economy that has suffered during the coronavirus pandemic.
In mid-March United States President Donald Trump signed the CARES Act bill that gave millions of Americans a stimulus payment of $1,200 per individual. Since the coronavirus pandemic started millions of Americans have lost their jobs and have been struggling financially. As the states started reopening their economies many people are asking if there is going to be a second round of payments to help them through the outbreak.
Travel credit and/or second payment?
The House Democrats approved the HEROES Act last month, a bill that would give, among other measures, a second round of stimulus payments, although that proposal was called ‘dead on arrival’ by the Republican-controlled Senate. Since then both parties have been working on a new bill that they can agree on.
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President Donald Trump has endorsed the idea to give Americans a tax credit to be used towards vacation spending to help boost the economy. In the past few weeks he has been encouraging Americans to travel domestically, rather than internationally, in order to kick-start the economy amid the coronavirus pandemic.
The new stimulus package is being called “Explore America” and it could give up to $4,000 to Americans for expenses in the United States, including hotels, theme parks, restaurants and other tourism-related businesses through the end of 2021. This tax credit would cover up to 50% of a household’s total vacation expenses, up to maximum of four thousand dollars. According to the U.S. Travel Association if this is approved it will do wonders to put America back “on the right path to prosperity and they applaud the president’s support.”
In addition to the “Explore America” bill that would give households - those that are able to go out and spend - up to $4,000, there are some talks about a second stimulus check coming by the end of the year. When the President, Republicans and Democrats come together and finally agree on a stimulus relief package, however, it may well be quite different to the first one.
The goal is that the second stimulus check, when approved, will send another round of $1,200 per individual to millions of Americans that have struggled during the coronavirus pandemic. If this happens then people are expected to also be entitled to the additional credit of $4,000 from Explore America, with the idea to boost the economy amid the outbreak.
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