Government Affairs - Detail

Economic Stimulus Legislation Causes Concerns for Industry

March 16, 2009

The Troubled Assets Recovery Plan (TARP) that was signed recently by President Barack Obama presents a number of challenges for the hospitality industry. The MLA, working in conjunction with the American Hotel and Lodging Association, has voiced its concerns that the new law does little to safeguard the nation’s third-largest industry (tourism) and actually contains provisions that could hurt lodging. The MLA is concerned that the exorbitant price tag on TARP does not include any investment in travel and tourism. It is also concerned that TARP monies used to prop up ailing financial institutions and other industries contains severe restrictions on corporate travel and conferences.

MLA leadership signed a letter to President Obama and legislative leaders calling attention to the implications this new law has for an industry that generates nearly $116 billion in federal, state and local tax revenues and employs nearly 2 million people across the country. To view the letter, click here and to view the TARP restrictions, click here. For more information, contact Michael P. Auerbach, MLA Deputy Director, at 617-720-1776 or via e-mail at mauerbach@masslodging.com.