White House is considering tax relief for airline, travel, and cruise industries hurt by coronavirus

[mahatmakanejeeves]

Source: Washington Post

Business

White House is considering tax relief for airline, travel, and cruise industries hurt by coronavirus

By Jeff Stein, Rachel Siegel, Heather Long and Erica Werner
March 6, 2020 at 12:53 p.m. EST

The travel and tourism industries are facing their worst crisis since the 2001 terrorist attacks, prompting White House officials to consider deferring taxes for the cruise, travel and airline industries to stem the economic fallout of the coronavirus, according to two people briefed on the discussions.

The discussions are a sign that the White House is grappling with how to respond to an outbreak they have publicly downplayed. The talks remain fluid and are preliminary.

These tax deferrals for the travel industry are being considered while airlines are cutting back on routes and warning about falling ticket sales. Hotel chains are struggling with vacancies in Asia and watching for similar waves in the United States. Businesses travel is plummeting, and trade shows, music festivals and conventions are being canceled from San Francisco to Chicago to Miami. And families and college students are reconsidering spring break excursions and distant summer plans.

It’s not clear how relief to the travel and hospitality sectors would be administered or whether President Trump’s own hotels could be beneficiaries. Administration officials also disagree on the extent to which some of these measures could be done without Congress.

{snip}

Justin Wm. Moyer contributed to this report.

Jeff Stein
Jeff Stein is a policy reporter for The Washington Post. He was a crime reporter for the Syracuse Post-Standard and, in 2014, founded the local news nonprofit the Ithaca Voice in Upstate New York. He was also a reporter for Vox. Follow https://twitter.com/jstein_wapo

Rachel Siegel
Rachel Siegel is a national business reporter. She previously contributed to the Post's Metro desk, The Marshall Project and The Dallas Morning News. Follow https://twitter.com/rachsieg

Heather Long
Heather Long is an economics correspondent. Before joining The Washington Post, she was a senior economics reporter at CNN and a columnist and deputy editor at the Patriot-News in Harrisburg, Pa. She also worked at an investment firm in London. Follow https://twitter.com/byHeatherLong

Erica Werner
Erica Werner has worked at The Washington Post since 2017, covering Congress with a focus on economic policy. Previously, she worked at the Associated Press for more than 17 years. Follow https://twitter.com/ericawerner


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[mahatmakanejeeves]

1. I forgot the link. Here it is.

https://www.washingtonpost.com/business/2020/03/06/white-house-could-seek-timely-targeted-aid-us-industries-hurt-by-coronavirus-outbreak-top-adviser-says/

[SWBTATTReg]

2. Already have tax breaks. If they lose money running their businesses, they get to not pay ...

taxes on the losses and maybe get refunds from prior years. As all businesses have now.

[ArizonaLib]

3. What about those suffering from deregulated capitalism?

And all the other capitalisms like 'Vulture Capitalism', 'Monopolistic Capitalism', 'Crony Capitalism', etc.

[global1]

4. You Can Bet Your Boots That The Major Reason That Trump Would Consider This Is Because...

his holdings are suffering and he is just thinking about how he can benefit by such tax relief.

Also - he's hanging his re-election on the economy and he's concerned that if the economy goes South - so do his re-election chance.

[Wellstone ruled]

10. So friggin right on.

Hospitality pays almost zero taxes on the Federal Level. And in States where they control the Legislatures,they pay the same.

So the old Story about the Orange Anus taking a Billion or so as he goes out the door is back.

[McCamy Taylor]

5. Bailouts for Trump's hotels!

[duforsure]

26. That's what he is looking at doing

So he can profit from this disaster because he's strapped for money, and nearly broke.

[CaptYossarian]

6. Just like the farmers getting paid because of his tariffs.

Every time he effs something up, he has to pay people off.

Just like when he was a private citizen ($130K hush money).

[DENVERPOPS]

18. Good one CY

By the time he is through he will be spending EVERYTHING but the Military Budget on bail outs for Corporations......

PS the farmers are complaining that the only people getting the predominate amount of bail outs are the huge monopolistic farming corporations............

[beachbumbob]

7. lol, how about effected employees?

[3Hotdogs]

16. Fuck 'em. They don't contribute much to the Republican Party.

Yes, its sarcasm.

[Flaleftist]

8. I thought nearly all cruise lines were flagged out of another country.

That allows them to use cheaper labor from that country. Are we supposed to somehow give those non-US companies a break?

[Politicub]

9. But nothing to cover sick days of working men and women.

Everything about this administration and republicans in general makes me ill.

[BamaRefugee]

12. You took the post right out of my fingers!

[Perseus]

11. What a lack of imagination this republicans have, they can't think beyond tax cuts

It is only two issues for them, taxes and abortion.

What a limited mindset. Although they also think of ways how they can get rich, how they can move those taxes into their own pockets.

I wish republican supporters had a brain, at least 1/2 a brain, its not that difficult to figure out the republican party doesn't care about any of them, or anyone but themselves for that matter.

[DENVERPOPS]

19. For decades

their go to mantra has always been GAYS.GUNS.GOD Just add taxes..........

[Cognitive_Resonance]

13. Picking winners and losers...capitalizing profits but socializing losses...typical GOP hypocrisy nt

[moosewhisperer]

14. Double dippers

Great. United is refusing to waive cancellation and change fees for the trip to California I booked on Feb 23rd scheduled to fly out next week. So, I have to eat $700 in plane tickets AND they’ll get my tax dollars, too.

[Denis Enko]

15. If Donny's Hotels WEREN'T Beneficiaries,

the White House wouldn't give a shit.

[yaesu]

17. Why that's socialism. nt

[raccoon]

20. What about the many workers who have no sick leave, and

Have to miss work if they’re sick?

Do they get any help from the federal government?

[greenjar_01]

21. They should have budgeted better...

Isn't that what they say when individuals are affected by medical contingencies?

[TheFarseer]

22. So socialism is good for businesses

But bad for people, got it.

[jmowreader]

23. You knew this would happen

In Trump's view, tax cuts are the solution to everything.

[maxrandb]

24. "Administration officials disagree on the extent some of these measures can be done without Congress

You shall not question the king.

We don't need no stinking Congress.

I'm sure we'll give Donnie Shit for Brains and the Retrumplicans whatever they want in a "compromise" budget resolution.

We wouldn't want to do anything that might harm our march to fascism. There must be cheap stuff at Walmart.

Maybe Congress will learn that if you fail to ever use the "power of the purse", then that power is meaningless... making Congress meaningless.

I'll say one thing for Moscow Mitch. He sure as hell is using his Senate power to keep "it" relevant.

Maybe Dems could do the same.

[ck4829]

25. All that for a hoax?

[roamer65]

27. Tax relief won't do shit to revive demand.

Utterly useless maneuver.

[C_U_L8R]

28. Stuffing their pockets, again

Looking to get all they can, while they still can