With so much discussion about the so-called fiscal cliff and its impact on the country, one overlooked question is its meaning for travelers.
Plunging off the cliff could, according to one expert, have a huge impact on how many trips people take.
Right now, people aren’t sure how to budget for 2013, in part because tax rates remain in flux, experts suggest. The higher the taxes, the less disposable income people have, which could translate to less travel.
“If we 'go over the fiscal cliff,' Americans might notice slightly smaller paychecks in the new year and start to do a bit of belt-tightening,"according to Away.com. "Even so, people work hard for their vacation days and need a getaway every now and then. Being mindful of extra travel costs, like hotel taxes, can help you stay on budget during your next trip.”
The U.S. Travel Association is calling on lawmakers to avert the cliff, improve the predictability of the market, and reduce the budget deficit.
The association also warned that budget cuts to U.S. Customs and Border Protection, the Transportation Security Administration (TSA), the Federal Aviation Administration (FAA) and the Federal Highway Administration (FHA) could result in bad travel experiences.