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.

FMI: http://tiahrt.house.gov/index.html