White House is considering tax relief for airline, travel, and cruise industries hurt by coronavirus
Source: Washington Post
Business
White House is considering tax relief for airline, travel, and cruise industries hurt by coronavirus
By Jeff Stein, Rachel Siegel, Heather Long and Erica Werner
March 6, 2020 at 12:53 p.m. EST
The travel and tourism industries are facing their worst crisis since the 2001 terrorist attacks, prompting White House officials to consider deferring taxes for the cruise, travel and airline industries to stem the economic fallout of the coronavirus, according to two people briefed on the discussions.
The discussions are a sign that the White House is grappling with how to respond to an outbreak they have publicly downplayed. The talks remain fluid and are preliminary.
These tax deferrals for the travel industry are being considered while airlines are cutting back on routes and warning about falling ticket sales. Hotel chains are struggling with vacancies in Asia and watching for similar waves in the United States. Businesses travel is plummeting, and trade shows, music festivals and conventions are being canceled from San Francisco to Chicago to Miami. And families and college students are reconsidering spring break excursions and distant summer plans.
Its not clear how relief to the travel and hospitality sectors would be administered or whether President Trumps own hotels could be beneficiaries. Administration officials also disagree on the extent to which some of these measures could be done without Congress.
{snip}
Justin Wm. Moyer contributed to this report.
Jeff Stein
Jeff Stein is a policy reporter for The Washington Post. He was a crime reporter for the Syracuse Post-Standard and, in 2014, founded the local news nonprofit the Ithaca Voice in Upstate New York. He was also a reporter for Vox. Follow https://twitter.com/jstein_wapo
Rachel Siegel
Rachel Siegel is a national business reporter. She previously contributed to the Post's Metro desk, The Marshall Project and The Dallas Morning News. Follow https://twitter.com/rachsieg
Heather Long
Heather Long is an economics correspondent. Before joining The Washington Post, she was a senior economics reporter at CNN and a columnist and deputy editor at the Patriot-News in Harrisburg, Pa. She also worked at an investment firm in London. Follow https://twitter.com/byHeatherLong
Erica Werner
Erica Werner has worked at The Washington Post since 2017, covering Congress with a focus on economic policy. Previously, she worked at the Associated Press for more than 17 years. Follow https://twitter.com/ericawerner
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mahatmakanejeeves
(57,621 posts)SWBTATTReg
(22,171 posts)taxes on the losses and maybe get refunds from prior years. As all businesses have now.
ArizonaLib
(1,242 posts)And all the other capitalisms like 'Vulture Capitalism', 'Monopolistic Capitalism', 'Crony Capitalism', etc.
global1
(25,272 posts)his holdings are suffering and he is just thinking about how he can benefit by such tax relief.
Also - he's hanging his re-election on the economy and he's concerned that if the economy goes South - so do his re-election chance.
Wellstone ruled
(34,661 posts)Hospitality pays almost zero taxes on the Federal Level. And in States where they control the Legislatures,they pay the same.
So the old Story about the Orange Anus taking a Billion or so as he goes out the door is back.
McCamy Taylor
(19,240 posts)duforsure
(11,885 posts)So he can profit from this disaster because he's strapped for money, and nearly broke.
CaptYossarian
(6,448 posts)Every time he effs something up, he has to pay people off.
Just like when he was a private citizen ($130K hush money).
DENVERPOPS
(8,845 posts)By the time he is through he will be spending EVERYTHING but the Military Budget on bail outs for Corporations......
PS the farmers are complaining that the only people getting the predominate amount of bail outs are the huge monopolistic farming corporations............
beachbumbob
(9,263 posts)3Hotdogs
(12,414 posts)Yes, its sarcasm.
Flaleftist
(3,473 posts)That allows them to use cheaper labor from that country. Are we supposed to somehow give those non-US companies a break?
Politicub
(12,165 posts)Everything about this administration and republicans in general makes me ill.
BamaRefugee
(3,487 posts)Perseus
(4,341 posts)It is only two issues for them, taxes and abortion.
What a limited mindset. Although they also think of ways how they can get rich, how they can move those taxes into their own pockets.
I wish republican supporters had a brain, at least 1/2 a brain, its not that difficult to figure out the republican party doesn't care about any of them, or anyone but themselves for that matter.
DENVERPOPS
(8,845 posts)their go to mantra has always been GAYS.GUNS.GOD Just add taxes..........
Cognitive_Resonance
(1,546 posts)moosewhisperer
(114 posts)Great. United is refusing to waive cancellation and change fees for the trip to California I booked on Feb 23rd scheduled to fly out next week. So, I have to eat $700 in plane tickets AND theyll get my tax dollars, too.
Denis Enko
(81 posts)the White House wouldn't give a shit.
yaesu
(8,020 posts)raccoon
(31,126 posts)Have to miss work if theyre sick?
Do they get any help from the federal government?
greenjar_01
(6,477 posts)Isn't that what they say when individuals are affected by medical contingencies?
TheFarseer
(9,326 posts)But bad for people, got it.
jmowreader
(50,563 posts)In Trump's view, tax cuts are the solution to everything.
maxrandb
(15,359 posts)You shall not question the king.
We don't need no stinking Congress.
I'm sure we'll give Donnie Shit for Brains and the Retrumplicans whatever they want in a "compromise" budget resolution.
We wouldn't want to do anything that might harm our march to fascism. There must be cheap stuff at Walmart.
Maybe Congress will learn that if you fail to ever use the "power of the purse", then that power is meaningless... making Congress meaningless.
I'll say one thing for Moscow Mitch. He sure as hell is using his Senate power to keep "it" relevant.
Maybe Dems could do the same.
ck4829
(35,091 posts)roamer65
(36,747 posts)Utterly useless maneuver.
C_U_L8R
(45,021 posts)Looking to get all they can, while they still can