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Mon Jun 29, 2020, 10:12 PM

The GOP's Lampoon Vacation - WSJ Editorial

The fallout from the coronavirus is leading to all sorts of bad ideas...Republicans prefer their subsidizing through the tax code. A bad example of the latter is Senator Martha McSallyís proposal for a $4,000 vacation tax credit.

The Arizona Republican last week introduced the American Tax Rebate and Incentive Program Act, or TRIP Act, offering a subsidy for Americans who travel anywhere in the U.S. that is more than 50 miles from home until 2022. Married couples can claim up to $8,000, and credits that directly reduce tax liability are much more generous than mere deductions that reduce taxable income. Eligible credit expenses include: travel, lodging, live entertainment, food and drink.

The bill answers the question millions of suffering Americans arenít asking: What about my second home? Travel to another residence is eligible for the credit as long as you donít try to write off the lodging. The commute to that weekend retreat in Sedona or the Hamptons would suddenly cost less.

The travel and tourism industries have been slammed by the pandemic, but this idea is a howler even by the low standards of Congress. Like nearly all tax credits, it would subsidize behavior that would have happened anyway... Other industries will also demand the same treatment. Why not a tax credit to shop at retail stores? Check that, we donít want to give Senators any more bad ideas.

https://www.wsj.com/articles/the-gops-lampoon-vacation-11593472565 (subscription)

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Reply The GOP's Lampoon Vacation - WSJ Editorial (Original post)
question everything Jun 29 OP
idahoblue Jun 30 #1
chriscan64 Jun 30 #2

Response to question everything (Original post)

Tue Jun 30, 2020, 12:19 AM

1. 50 miles from home?

Cool! I could get a credit every time I make a Costco run.

Please, Arizona, get rid of this lunatic.

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Response to question everything (Original post)

Tue Jun 30, 2020, 07:32 PM

2. But for half of America,

vacation just means don't go to work. How about a wine cellar deduction or yacht credit?

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