At a lodging conference in Manhattan earlier this month, they chastised the Trump Administration's plan to scrap the program, calling it short-sighted and poorly-timed. "Travel drives the U.S. economy," said Jonathan M. Tisch, chairman and chief executive of Loews Hotels & Co., at the annual NYU International Hospitality Industry Investment conference. Indeed, in 2016, the travel industry generated $2.3 trillion in economic output through domestic and international visitors, according to the U.S. Travel Association. Without this tax revenue from travel and tourism, each U.S. household would pay $1,250 more in taxes, the Association said. Get the full story at TheStreet