Sat, Jul 24, 2010
Says The Measure Is Needed To Put The Spurs To The
NBAA President and CEO Ed Bolen on Friday urged swift passage
in the Senate of an amended proposal to renew accelerated, or
"bonus," depreciation for investments in strategic business assets,
including aircraft. "The business aviation community has joined
with many other business groups across the country in supporting
this proven incentive for companies of all sizes to accelerate
replacement and purchases of essential equipment, including general
aviation aircraft," Bolen said.
The Senate is considering amendments to the House version of the
Small Business Tax legislation that would include a variety of
incentives aimed at boosting U.S. economic recovery.
"This legislation will also strengthen the economic viability of
all the jobs that are created by the use of those aircraft - the
associated businesses and industries in communities surrounding
general aviation airports and facilities," Bolen said.
In written testimony to the U.S. House Committee on Small Business
earlier this month, Bolen wrote that extending accelerated
depreciation would "help promote the sale of business aircraft, and
preserve the good-paying manufacturing jobs that come with those
Equally important, Bolen noted, is that stimulating companies to
invest in general aviation aircraft for business purposes also
"enables more American companies to continue using business
aviation to succeed."
"We look forward to working with the Congress and the
Administration in the coming days to obtain legislation extending
accelerated depreciation as part of the recovery effort by
continuing the virtuous cycle of stimulating a vital industry
through tax incentives," Bolen (pictured, right) said.
Earlier this year, NBAA joined with more than 80 U.S. businesses
and organizations in a joint letter urging House and Senate leaders
to renew the tax incentive as one way to help bring back vital
manufacturing jobs and economic activity.
In addition, NBAA commended the bipartisan group of House members
who recently sent a letter urging the House Ways and Means
Committee to incorporate bonus depreciation in any final version of
the pending legislation.
The manufacture and use of business aircraft supports more than one
million jobs and contributes positively to the nation's trade
balance. Nevertheless, a continuing economic recession has weighed
heavily on the industry, which over the past year has witnessed a
raft of layoffs among aircraft manufacturers. Retaining accelerated
depreciation would help incentivize the purchase of general
aviation aircraft, and the jobs and other benefits that come with
Studies show that the most successful companies use general
aviation aircraft because it is a proven "efficiency multiplier"
that permits company employees to work together en route, make
effective use of time, including visiting multiple locations in a
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