Hospitality and Commerce Job Recovery Act of 2021

2021-02-25

Introduced in House

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 conventionand 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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