AAHOA Action Alert: Support the Tax Relief for American Workers Act of 2024
Aug 02, 20240 comments
AAHOA Action Alert: Support the Tax Relief for American Workers Act of 2024

We need your immediate support to advance critical legislation that will significantly benefit our industry and workforce. H.R. 7024, the "Tax Relief for American Workers Act of 2024," has successfully passed in the House and is now awaiting action in the Senate. This bill provides essential tax relief and support for American workers and businesses, which will help our industry recover and thrive. Now, it's up to us to ensure it becomes law.
 
Why it Matters:
  • Increased Deduction for Business Expenses: Increases the allowable deductions for business expenses related to property improvements, renovations, and energy-efficient upgrades. This means hoteliers can invest in their properties with less financial burden.
  • Payroll Tax Deferral: Extends the deferral period for payroll taxes, providing immediate cash flow relief for hotel owners, allowing them to reinvest in their businesses and workforce.
  • Targeted Relief for Small and Medium-Sized Hotels: Provides specific tax incentives for small and medium-sized hotels, helping them to remain competitive and thrive in a challenging economic environment.

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