The House of Representatives passed a bipartisan tax package earlier this winter. It’s time for the Senate to pass critical tax relief! Tell your Senators to pass the Bipartisan Tax Package by Tax Day, April 15, to support hotel industry businesses and workers.
We need to send 2,000 letters to Congress! Can you help us?
Background
- In 2017, Congress passed historic tax cuts for American businesses and workers. These have started to expire.
- H.R. 7024, the Tax Relief for American Families and Workers Act of 2024, is a bipartisan bill that would, among other things, temporarily extend key business tax provisions that enable hotels to reinvest back in their businesses and communities and spur economic growth as well as enhance the Child Tax Credit that supports hard-working employees and their families.
- This legislation passed the House 357-70 with strong bipartisan support! Now, it’s the Senate’s turn.
- The Senate needs to hear about the importance of ACTING NOW to provide tax certainty to businesses and families.
Impact on the Lodging Industry
- This legislation would temporarily extend 100% bonus depreciation for qualifying property and the inclusion of depreciation and amortization in business interest expense calculations.
- These tax provisions are potentially worth tens of thousands of dollars to the average hotel. The hotel industry is confronting numerous challenges in the forms of higher interest rates, higher costs, and economic uncertainty. Tax uncertainty doesn’t need to be added to the list!
- Updating business tax policies and pursuing tax policies that support workers ensures the U.S. remains a vibrant marketplace for the hotel industry.
What You Can Do
- Tell your Senators to pass the Bipartisan Tax Package by Tax Day and support the hotel industry and its workers.
- Please ask your employees and colleagues to weigh in as well.