The American Hotel & Lodging Association (AHLA) is rallying the hospitality industry behind the Tax Relief for American Families and Workers Act, urging support for a Senate bill through an industry-wide Tax Day of Action.
Known as H.R. 7024, the bill proposes extending tax relief for hotels to stimulate new investments and employee hiring. Having secured bipartisan approval in the House of Representatives in January 2024, it now awaits Senate deliberation.
Should the bill pass, hotels stand to benefit significantly, with potential tax relief ranging from tens of thousands to several million dollars. Furthermore, it aims to prolong 100 percent bonus depreciation until the end of the following year and extend the child tax credit.
AHLA is mobilizing hoteliers to take action by generating 2,000 letters to Congress in support of the legislation. Just a month prior, AHLA, along with over 75 hospitality groups, united to advocate for the bill’s passage through a joint letter to Congress.
“Small business hoteliers and employees are grappling with substantial obstacles to growth, including persistent inflation, a nationwide workforce shortage, and an assertive federal regulatory agenda,” stated AHLA Interim President & CEO Kevin Carey. “On this Tax Day of Action, America’s hotels urge senators to heed AHLA’s 30,000-plus members and swiftly pass the Tax Relief for American Families and Workers Act.”
