Todd Tiahrt (R-KS) Looks To Extend Aviation Tax Exemption
U.S. Congressman Todd Tiahrt (R-KS)
(pictured, right) introduced legislation Thursday he hopes
will help boost general aviation aircraft sales. The General
Aviation Jobs Act would extend the current bonus depreciation
allowance for another two years and shorten the recovery period for
noncommercial aircraft property from five to three years. The
General Aviation Manufacturers Association is supporting the
bill.
In the last year, Wichita and surrounding counties have experienced
more than 14,000 layoffs— 82 percent of those layoffs have
come from aircraft manufacturers and small suppliers due to the
downturn in the economy.
“American businesses are the real force behind economic
stimulus, and we need to use every available tool to help workers
and businesses succeed,” said Tiahrt. “For this reason
I am introducing the General Aviation Jobs Act that will extend
proven accelerated depreciation provisions to create more favorable
opportunities for sales. With the aviation sector taking such a
hard hit in recent months in South-central Kansas, Congress should
pass this market-driven approach to stimulate our economy in
Kansas.”
GAMA President and CEO Pete Bunce said, “During this time of
economic challenges for general aviation manufacturers and
suppliers, GAMA appreciates Congressman Tiahrt’s leadership
in introducing tax legislation that will boost general aviation
sales. This legislation will help bring back our workforce by
reenergizing production lines in Kansas and throughout this
country.”
Tiahrt has been a leading advocate for using bonus depreciation as
a tool to help stimulate the economy. He was successful in getting
accelerated depreciation language signed into law following the
September 11, 2001, terrorist attacks that ravaged economic harm
particularly to the Kansas aircraft industry. This language
produced immediate economic benefits within Sedgwick County by
jumpstarting sales in the aircraft industry.
Without action by Congress, the current accelerated timeframe for
the depreciation tax provision will expire at the end of the
year.
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