Hospitality and Commerce Job Recovery Act of 2021

Summary

Hospitality and Commerce Job Recovery Act of 2021 This bill extends existing and establishes new tax credits that assist the hospitality and restaurant industry. Specifically, it allows a convention and trade show restart tax credit; extends the employee retention tax credit through 2021; suspends for taxable years 2021 through 2022, the limitation on entertainment expenses related to a trade or business, allows a restaurant and dining restart credit for businesses closed or forced to reduce services due to COVID-19 (i.e., coronavirus disease 2019); allows a 50% tax credit for travel expenditures; and allows a tax credit for unmerchantable inventory for the period between December 31, 2019, and before April 1, 2021.

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Timeline

1. 25 February 2021

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 25 February 2021

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 25 February 2021 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 25 February 2021

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 25 February 2021

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 25 February 2021

  Open at official source

Sponsors

• Catherine Cortez Masto · D · Sponsor
• Kevin Cramer · R · Sponsor
• Shelley Capito · R · Cosponsor
• Christopher Coons · D · Cosponsor
• Jacky Rosen · D · Cosponsor
• Cindy Hyde-Smith · R · Cosponsor
• Ben Luján · D · Cosponsor
• Lisa Murkowski · R · Cosponsor
• Gary Peters · D · Cosponsor
• · ssfi00 · Standing

Related records

• related to ← Hospitality and Commerce Job Recovery Act of 2021
• related to ← Service Worker Economic Stabilization Act