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.