U.S. Travel Community Urges Congress to Reauthorize Terrorism Risk Insurance Act (TRIA) By Year-End
December 3, 2014 6:53am
WASHINGTON (December 3, 2014) - U.S. Travel Association President and CEO Roger Dow issued the following statement urging Congress to reauthorize the Terrorism Risk Insurance Act (TRIA) before its expiration on December 31, 2014:
"Failure to reauthorize TRIA in a timely fashion is creating the condition that any economy hates most: uncertainty. A vast and vital portion of the U.S. economy depends on TRIA to be able to operate effectively in the current global security environment, and leaving its future in doubt is hampering growth and job creation, plain and simple.
"On 9/11, America's businesses and workers did not have the essential safeguards TRIA provides to deal with the devastating fallout of a major attack. The economic effects were enormous and rippled for years.
"Since its enactment in 2002, TRIA has strengthened the U.S. economy's resilience at no cost to taxpayers. Businesses in our industry readily attest to the importance of TRIA in providing the necessary level of terrorism risk insurance that is simply unattainable in the private market.
"We're finally seeing some consistent good news about our economy. But the news could be even better if Congress were to finish up some basic items before they leave town for the year, and one of those items is renewing TRIA. We urge House leaders to follow the Senate's lead and immediately enact a multi-year reauthorization of this program."
In September, U.S. Travel joined a multi-industry sign-on letter to the House of Representatives encouraging immediate action on TRIA. Click here to read the letter.
Tags: u.s. travel association
Contact: Cathy Keefe
(O) 202-408-2183, (C) 703-899-7031
Contact: Jamie Morris
(O) 202-218-3621, (C) 530-545-9274
Visit U.S. Coalition Launches Amid Drop in U.S. Share of Global Travel
U.S. Travel Association President and CEO Roger Dow Says Addressing Falling Inbound Travel Needs to Become a National Priority
Travel Trends Index: Domestic Leisure Travel Withstands Harvey and Irma
Travel Trends Index: Slight Uptick Across All Travel Segments
U.S. Travel Statement on New Travel Restrictions
Portions of Travel Trends Index Revised Sharply Downward on New Data
U.S. Travel Association Presents Florida Governor Rick Scott with Distinguished Leadership Award for Commitment to Travel and Tourism
Louisiana's Kyle Edmiston Wins 2017 State Tourism Director of the Year
Workers Who Start in Travel and Tourism Achieve Higher Peak Salary Than Most Industries
Marriott's Arne Sorenson and STR's Randy Smith to Be Inducted into U.S. Travel Hall of Leaders
Travel Trends Index: Int'l Travel to U.S. Continues Strong Showing Post-Executive Order
U.S. Travel Trends Index: International Travel Post-Executive Order Stronger Than Expected
U.S. Travel Industry Rallies Behind Brand USA
Travel Trends Index: International Inbound Travel Shows Signs of Weakness
Wyndham Hotel Group’s Geoff Ballotti Named U.S. Travel National Chair
Travel Trends Index: International Travel Unexpectedly Strong to Start 2017
U.S. Travel Reacts to Trump's Joint Session Address
International Travel to U.S. Finally Returns to Pre-9/11 Levels
Travel Trends Index: Following a Strong 2016, Outlook Improves for Domestic Biz Travel
U.S. Travel Welcomes Senate Confirmation of Rex Tillerson for Secretary of State
Please login or register to post a comment.