Affiliation leads Tax Day of Motion advocacy push
The American Lodge & Lodging Affiliation (AHLA) as we speak is main an industry-wide Tax Day of Motion in assist of the Tax Aid for American Households and Staff Act, H.R. 7024.
The Tax Aid for American Households and Staff Act would lengthen essential tax aid for resorts that might incentivize new investments in properties and worker hiring and assist preserve hoteliers aggressive at a time of financial uncertainty. The invoice handed the Home in January with a broad, bipartisan vote and is at present pending within the Senate.
The Tax Day of Motion membership mobilization push enhances AHLA’s appreciable lobbying efforts in assist of the laws with earned, owned, and social media outreach inviting hoteliers to contact their senators in assist of the invoice.
Tax aid underneath the invoice may vary from tens of hundreds of {dollars} to a number of million {dollars} per property, based on a current Cornell College examine.
“Small enterprise hoteliers and workers are going through important hurdles to progress, together with persistent inflation, a nationwide workforce scarcity, and an aggressive federal regulatory agenda,” mentioned AHLA Interim President & CEO Kevin Carey. “America’s resorts need assistance navigating these financial headwinds, and on this Tax Day of Motion we name on senators to take heed to AHLA’s 30,000 plus members and swiftly cross the Tax Aid for American Households and Staff Act.”
Hoteliers can urge senators to cross the invoice right here.
Background
The bipartisan Tax Aid for American Households and Staff Act (H.R. 7024) contains necessary provisions that can profit hoteliers and lodge workers, together with:
- An extension of the 100% bonus depreciation by means of the top of 2025. Below present legislation, leasehold and different qualifying inside enhancements are eligible for bonus depreciation. In 2026, bonus depreciation would fall to twenty% and expire after 2026.
- A retroactive, four-year extension of the taxpayer-favorable earnings earlier than curiosity, taxes, depreciation, and amortization (EBITDA) customary for measuring the quantity of enterprise curiosity deductible underneath part 163(j).
- A Little one Tax Credit score enhancement.
