SENATE 477117th CongressRead twice and referred to the Committee on Finance.
Hospitality and Commerce Job Recovery Act of 2021
- Last Action
- 2/25/2021
Actions
- 2021-02-25Read twice and referred to the Committee on Finance.
- 2021-02-25Introduced in Senate
CRS Summary
As of 2021-02-25 (00)
Hospitality and Commerce Job Recovery Act of 2021
This bill extends existing and establishes new tax credits that assist the hospitality and restaurant industry. Specifically, it
- allows a convention and trade show restart tax credit;
- extends the employee retention tax credit through 2021;
- suspends for taxable years 2021 through 2022, the limitation on entertainment expenses related to a trade or business,
- allows a restaurant and dining restart credit for businesses closed or forced to reduce services due to COVID-19 (i.e., coronavirus disease 2019);
- allows a 50% tax credit for travel expenditures; and
- allows a tax credit for unmerchantable inventory for the period between December 31, 2019, and before April 1, 2021.
Cosponsors (8)
- Kevin Cramer (R-ND)
- Shelley Capito (R-WV)
- Christopher Coons (D-DE)
- Jacklyn Rosen (D-NV)
- Cindy Hyde-Smith (R-MS)
- Ben Luján (D-NM)
- Lisa Murkowski (R-AK)
- Gary Peters (D-MI)
Subjects
- Business expenses
- Cardiovascular and respiratory health
- Emergency medical services and trauma care
- Employment taxes
- Food industry and services
- Food supply, safety, and labeling
- Income tax credits
- Income tax deductions
- Infectious and parasitic diseases
- Manufacturing
- Marketing and advertising
- Museums, exhibitions, cultural centers
- Tax-exempt organizations
- Transportation costs
- Travel and tourism
- Wages and earnings
- Worker safety and health
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.