Freedom to Travel Act of 2001

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.