In the wake of the midterm elections, the American Hotel & Lodging Association (AH&LA), along with more than 80 other hotel industry groups, including hotel brands, management companies, real estate investment trusts (REITs), owners, and state hotel associations, called on the House of Representatives to pass the Terrorism Risk Insurance Act (TRIA) in a letter sent to House leadership.
AH&LA urged lawmakers to focus on the immediate priorities, including passage of this piece of legislation, which is critical to protect job and economic growth within the hotel industry and across the broader economy, the association stated. More than 80 groups joined AH&LA in signing the letter, which was sent to every member of the House of Representatives in addition to House leadership.
“Now that the long campaign season is over, the House of Representatives must immediately move to reauthorize TRIA as soon as they return to Washington,” said AH&LA President and CEO Katherine Lugar. “This program protects future development projects and provides security that hoteliers need to grow and create jobs. Together, we urge Congress to follow through on their campaign promises to create jobs by passing this bill. The Senate did what was necessary and passed a bipartisan, comprehensive bill with overwhelming support. It’s now time for the House to take action and pass a similar bill that both maintains a strong, effective program and extends it on a multi-year basis.”
The United States Senate passed TRIA in July by a vote of 93-4. This bipartisan legislation provides a backstop for insurance coverage in the case of a terrorist attack. The program was reauthorized in 2005 and 2007. The Senate bill reauthorizes the program for seven years.
