AAHOA statement on Tax Reform

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WASHINGTON – Chip Rogers, president and CEO of the Asian American Hotel Owners Association, released the following statement in reaction to the joint statement on tax reform issued by congressional leaders and Trump administration officials:

“Reducing the tax burden on America’s job creators has long been discussed but with almost no action for three decades. The joint announcement by congressional leaders in both chambers, in conjunction with the stated goals of the Trump administration, serves as a dramatic change from decades of skepticism over the opportunity for true reform. Reducing the burden of the tax code on small businesses especially—both in terms of rates and its complexity—will unleash an economic boom that America has been looking for since the Great Recession. Tens of thousands of small business owners and entrepreneurs are on the sidelines awaiting action on this issue. We strongly support efforts by the administration and congressional leaders to deliver tax reform for the American people.”

Background: The Economic Innovation Group released a new analysis that shows, for the first time, more U.S. companies are closing than are being created. “In spite of massive changes throughout the global economy, the rate at which businesses close has remained fairly steady in the United States over the past 40 years. In contrast, the rate of new business formation has plummeted,” they report. This phenomenon is vastly different than previous economic recoveries, they point out. Read more here: http://eig.org/dynamism.

AAHOA is the largest hotel owners association in the world. The more than 16,000 AAHOA members own almost one in every two hotels in the United States. With billions of dollars in property assets and hundreds of thousands of employees, AAHOA members are core economic contributors in virtually every community in the United States. As an association, AAHOA is a proud defender of free enterprise and the foremost current-day example of realizing the American Dream.

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For more information, contact: Brandon VerVelde, 202-945-4954, brandon@aahoa.com

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