NBAA Pushing Back on Punitive Policies for Business Aviation

SOURCE: NBAA

If you weren’t paying careful attention, you may have missed it: last week, in his State of the Union address address, President Biden referenced troubling new tax proposals for business aviation.

This week, the president has followed through on those comments, with onerous proposals in his annual budget plan that single out the industry for punitive tax treatment, including:

	•	a five-fold fuel tax increase on business aviation, to $1.06 per gallon
	•	a change to the depreciation schedule for purchased business aircraft, from 5 years to 7 years.

The budget proposal follows a recent plan unveiled by the IRS for audits on companies using business aircraft, to ensure that “everyone is playing by the same rules.”

"The Biden administration’s sweeping plan would hurt business aviation and the jobs and communities that depend on it, and make it harder for U.S. companies to compete in a global economy.”

ED BOLEN
NBAA President and CEO

NBAA has put the facts on the table, emphasizing that business aviation is an essential U.S. industry:

	•	Supporting 1.2 million American jobs, contributing about $250 billion in annual GDP and connecting communities with little or no airline service.
	•	Serving America’s most-respected, well-managed companies, in full compliance with U.S. tax laws.
	•	Helping even President Biden’s Cabinet officials meet their transportation needs.