Anyone else see this.....Congress considers tax credit for vacation travel

[phins_jazy]

http://www.cnn.com/2001/TRAVEL/NEWS/10/05/rec.travel.tax.credits/index.html

The Travel America Now Act would give a tax credit for personal and vacation travel for trips more than 100 miles from home. The credit would be up to $500 for individuals and $1,000 for couples.

 

[Robinrs]

More than 100 miles? I travel 125 miles every other weekend to visit my parents! Wow!

I heard about this on the ride in this morning. I wonder if it will pass? 100 miles sounds too short, though. We'll see....

 

[phins_jazy]

I sure hope it does too!!! For 100 miles I can spend the weekend in Dallas and if they up it to 1000 I can go home and visit my folks!!!

 

[vllygrrl]

Woo hooo! If this passes before our trip in November, DH and I will be doing the happy dance of joy!!! inkbounc

 

[Disneycrazymom]

WOW! That would be so cool. I hope it passes.

 

[casmanuel]

Does this mean a trip of +100 miles would be tax deductible or are they talking about another "prefund" in the hopes we will spend it on travel?

 

[tink2dw]

The tax credit would only be available for travel expenses incurred from the time the bill becomes law to December 31, 2001.

That isn't very long?????? This is Oct. already!! and Dec 2001?? By the time they pass this it will be expired!!lol,*with irony* How is this suppose to help??

I was excited till I read it, now if they did it for a tax break for the year of 2001 then that would Help. not 3 weeks the end of Dec when families are traveling anyway??
What a Disappointment!!

 

[Laurajean1014]

The credit would default the cost of my airfare! YeHa!

I'll take that!

 

[cats mom]

OK maybe it's just me - but I think the folks who should be rewarded are the ones who went ahead with travel plans in Sept. and even into Oct. when everyone else was cancelling.

 

[mom2boys]

If Congress passes this bill, I may be able to convince DH to keep the ressies we have for Dec. Otherwise, I just don't see how we can justfiy the $$ money at this time - especially only a couple of weeks before Christmas. So yeah, I'll take it.

 

[dandave]

Wow! This would definitely set our (now tentative) Dec trip in stone! Still, I think we'll drive...

 

[JenniferW]

That would be great. If anyone hears any more, let us know!

Jenn

 

[Minnie's Mate]

I want to know if it passes, too! We are going, get this, 12/23-12/30/01! It would be great to get $1000.00 tax credit for a trip we have planned all year.

 

[B3LM]

That would be fantastic! Our trip is the end of November.

What do 'ya think the odds are that it will actually pass, though???

 

[mom2boys]

I am curious to see what effect today's developments have on travel ect. It might make more people think twice before straying too far from home.

 

[horseshowmom]

Right now, I can't get my husband to even remotely discuss going anywhere, BUT if that passes, he's not going to have a chance! If worse comes to worse, DD and I can always go by ourselves!

If anybody hears anything, post it soon! LOL

 

[georgiapeach60]

It does sound like a nice idea but I agree, by the time it passes and people actually know about it, it will be over.

 

[CarolG]

If you're interested, here's a brief summary of the proposed legislation.

 

[phins_jazy]

Thanks for the additional info CarolG

 

[roger8918]

Can anyone tell me if this would be a deduction from your earned income (like other deductions) or directly off your tax owed? Big difference.