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Obama Signs Travel Promotions Act Into Law.
March 12, 2010

President Obama enacted legislation to promote international travel to the United States by establishing a national tourism board that would coordinate advertising and other efforts to encourage foreigners to visit the United States

With unemployment remaining high and concerns strong regarding the jobless recovery, the promises to jump start travel sound great to many. Best of all, this stimulus plan will not cost taxpayers a dime. It will actually increase federal revenues and lower the federal budget deficit.

The Act establishes a new public-private partnership to promote the US as a leading destination for international travelers and educate them about US security procedures. This partnership will be funded by a $10 fee on overseas travelers who do not pay $131 for a US visa and matched by the travel industry.

Travel is a large part of the US economy. One in eight Americans is currently employed in the travel industry either directly or indirectly. Ninety percent of employers in the travel industry are small businesses spread across all regions of the country. When you look at these facts it shows that an increase in travel would help the economy.

Advocates of the law say it would help attract 1.6 million new international visitors, $4 billion in new spending and more than $300 million in tax revenue each year. This is money that the US economy could use right now.

Source :- http://www.mindfulmoneymatters.com