Freedom to Travel Act of 2001
Last action on Oct 16, 2001Referred to the House Committee on Ways and Means.
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Summary
Freedom to Travel Act of 2001 - Amends the Internal Revenue Code to increase the business deduction for travel, meals, entertainment, and lodging from 50 percent to 80 percent of qualifying expenses.
Provides a personal deduction for 50 percent of qualifying domestic travel expenses (limited to $1,000, $2,000 joint) for personal travel expenses and $500 ($1,000 joint) for meals).
Defines specified terms.
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