Atlanta, GA (PRWEB) October 21, 2013
With a very strong focus on reestablishing forty hours as full time status under the Affordable Care Act, the “Commercial Real Estate and Economic Development Act (CREED)” and the “Jobs Originated through Launching Travel (JOLT) Act,” the Asian American Hotel Owners Association (AAHOA) will bring more than 200 hotel owners and other leaders to Washington, D.C. October 22-23, 2013 for its annual Legislative Action Summit.
The first day of this two-day event begins with legislative training for attendees and expert guest speakers who will share their insights on the key issues AAHOA plans to address during in-person Congressional meetings with Senators, Representatives and their staff members the following day on Capitol Hill.
Regarding the issues, AAHOA will ask Congress to:
1. Support and pass the “Commercial Real Estate and Economic Development (CREED) Act of 2013.” This would reinstate the ability of small businesses to use the SBA 504 loan program to refinance commercial real estate and reinvest in their businesses.
o Conventional refinancing for commercial real estate remains difficult to obtain without the SBA. As a result, small business owners are forced to accept short term, high-rate options.
o The CREED Act, which has bipartisan support in both the House and the Senate, would allow business owners to lock-in stable refinancing at reasonable terms, which in turn would help create and protect jobs.
o The 504 refinance program arbitrarily ended September 27, 2012. There is NO cost to taxpayers, as the program is financed through fees levied on borrowers.
o 2,700 small businesses refinanced over $7 billion in debt in 2012 through SBA 504 program loans.
2. Pass the “40 Hours is Full Time Act of 2013” and the “Save American Workers Act of 2013” which seek to modify the formula of determining a full-time employee under the Affordable Care Act (ACA) from someone who works 30 hours per week, to the traditional definition of 40 hours.
o The ACA requires employers with at least 50 full-time equivalents to provide health insurance coverage to their employees who work at least 30 hours per week.
o For nearly a century, employers and employees have relied on the definition of “full-time” as working 40 hours per week.
o These bills, with bipartisan support in the House and Senate, will bring certainty and stability to the workforce and restore the traditional understanding of “full-time.”
o The bills promote more employee working hours, resulting in higher take-home pay and higher tax revenues.
3. Support the “Jobs Originated through Launching Travel (JOLT) Act of 2013” which would promote international travel to the U.S. by reducing visa wait times for tourism-related travel and expanding the Visa-Waiver Program (VWP).
o Currently, the VWP allows travelers from 37 countries to travel to the U.S. for up to 90 days without first obtaining a visa.
o This bill expands the VWP by allowing the Secretary of Homeland Security to designate additional countries to join the program.
o The JOLT Act expedites the visa process by developing a fee-based interview system, requiring the publication of times of low visa demand, and easing restrictions on Canadian travelers.
o Enactment of the bill would lead to increased travel and tourism to the U.S., which would promote job growth, generate tax revenue and boost economic development.
o The bill is incorporated into the Senate-passed immigration bill (S.744) and enjoys wide bipartisan support in the House and the Senate.
For more information about the AAHOA Legislative Summit, including a detailed agenda, please contact Director, PR & Communications Heather Daniel at (404) 419-8987 or heather(at)aahoa(dot)com.
The Asian American Hotel Owners Association (AAHOA) is the voice of owners in the hospitality industry. Founded in 1989, AAHOA is now one of the fastest-growing organizations in the industry, with more than 12,000 members owning more than 20,000 hotels that total $128 billion in property value. AAHOA members employ 578,600 full- and part-time workers with a $9.4 billion payroll.