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Today, U.S. Senators Catherine Cortez Masto (D-Nev.) and Kevin Cramer (R-N.D.) released new bipartisan legislation that aims to “provide comprehensive relief and recovery measures for the convention, trade show, entertainment, travel and hospitality industries and their workers,” according to a statement released by the senators.
Called the Hospitality and Commerce Job Recovery Act of 2020, the legislation aims to create recovery incentives for hospitality and trade shows, improve the employee retention tax credit and offer incentives for middle class families to travel when safe.
“While the economy is on its way to recovery, several businesses and workers are still hurting and in need of assistance,” Cramer said. “Our bill injects help into some of the hardest hit industries and encourages them to hire and retain employees.”
Our bill injects help into some of the hardest hit industries and encourages them to hire and retain employees.
Masto emphasized how the state of Nevada has been particularly hard hit by challenges to travel and hospitality.
"These industries are the economic engine of our state and our communities, and the incredible challenges they are now facing due to COVID-19 demand our attention — and action — in Congress,” she said.
According to Tori Barnes, executive vice president of public affairs and policy at the U.S. Travel Association, the “leisure and hospitality industry has suffered nearly 40% of all job losses nationwide, and a staggering 50% of all travel-supported jobs will be lost by the end of December if there is no federal intervention to provide aid.”
Because the bill provides tax incentives on the sectors that need the most help, it “will provide a significant boost to travel jobs, helping to ensure the millions of Americans that rely on travel for income can get the financial stability they need,” Barnes said.
The American Society of Travel Advisors (ASTA) also strongly supports the legislation.
"It will provide immediate benefits to many of our members — which is welcome as many of the CARES Act relief programs have run dry — while stimulating the recovery of the travel industry, the health of which is central to the overall U.S. economy,” said Eben Peck, executive vice president, advocacy for ASTA.