THE AMERICAN HOTEL & Lodging Association is spearheading a nationwide “Tax Day of Action” campaign to gather support for H.R. 7024, the Tax Relief for American Families and Workers Act. The association called on its more than 30,000 members to contact their senators to garner support for the swift passage of the bill.
The legislation provides tax breaks for the hotel industry, fostering new investments and hiring, crucial for maintaining competitiveness during economic uncertainty, AHLA said in a statement.
The bill, introduced by Jason Smith, Republican senator and House Ways and Means Committee chair, in January, received bipartisan support in the House, and is now awaiting a decision in the Senate.
“American families will benefit from this bipartisan agreement that provides greater tax relief, strengthens Main Street businesses, boosts our competitiveness with China, and creates jobs,” said Smith. “We even provide disaster relief and cut red tape for small businesses, while ending a COVID-era program that’s costing taxpayers billions in fraud. This legislation locks in over $600 billion in proven pro-growth, pro-America tax policies with key provisions that support over 21 million jobs. I look forward to working with my colleagues to pass this legislation.”
The Tax Day of Action membership mobilization is utilizing earned, owned, and social media outreach to prompt hoteliers to contact their senators in support of the bill, AHLA said.
The bipartisan Tax Relief Act provisions include:
- Extending 100 percent bonus depreciation until the end of 2025, with leasehold and other qualifying interior improvements eligible. Bonus depreciation would decrease to 20 percent in 2026 and expire thereafter.
- Retroactively extending the EBITDA standard for measuring deductible business interest under section 163(j) for four years.
- Enhancing the Child Tax Credit.
“Small business hoteliers and employees are facing significant hurdles to growth, including persistent inflation, a nationwide workforce shortage, and an aggressive federal regulatory agenda,” said Kevin Carey, AHLA’s interim president and CEO. “America’s hotels need help navigating these economic headwinds, and on this Tax Day of Action we call on senators to listen to AHLA’s 30,000 plus members and swiftly pass the Tax Relief for American Families and Workers Act.”
The Tax Relief Act was one of AHLA’s recently announced priorities for its advocacy efforts in D.C.
