Hospitality and Commerce Job Recovery Act of 2021

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 convention and 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.