WASHINGTON – Chip Rogers, president and CEO of the Asian American Hotel Owners Association, released the following statement on the release of President Donald Trump’s tax reform proposal:
“We welcome and applaud the long-overdue reform of the overly complex tax code. President Trump’s proposal has a lot that hotel owners can get behind, starting with the cuts to both personal and corporate income tax rates and the cuts to pass-through income taxes. Letting hard-working Americans and small business owners keep more of their own money will spur investment and lead to new jobs, new businesses and more prosperity throughout the country. We also applaud the broad principles of reducing the complexity of the tax code. Compliance with the tax code costs businesses in America over $4.4 billion per year—money that’s better used for pay raises, hiring new employees or business expansions.
“While we’re disappointed that the proposal does not specifically take like-kind exchanges off the table, we remain hopeful that both the administration and lawmakers will realize the immense benefits this important tool has on the economy. We’ll continue to encourage our members to have conversations with their members of Congress about the benefits of like-kind exchanges.”
Founded in 1989, AAHOA (www.aahoa.com) is the largest hotel owners association in the world, with more than 16,500 small business owner-members. AAHOA members own almost one in every two hotels in the United States.