Sat, Jan 10, 2009
Says House Proposal Would Eliminate Jobs In GA
On Friday the House Financial Services Committee released a
proposal to reauthorize the Troubled Assets Relief Program (TARP)
that includes a business aircraft divestiture provision similar to
the provision that was included in the auto bailout bill proposed
in December.
That doesn't sit well with the General Aviation Manufacturers
Association... which fears the current anathema against business
aviation will hit manufacturers of both large and small
aircraft.
"Targeting our industry is an unacceptable and counterproductive
response to our nation’s economic situation," said Pete
Bunce, GAMA’s president and CEO. "If passed, this provision
will have an adverse impact on our industry and jeopardize
high-paying manufacturing jobs. A decision like this would be
completely inappropriate at a time when general aviation
manufacturers are already suffering from a weak economy. The last
thing we need is for Congress to pursue an effort that will
ultimately weaken an important domestic manufacturing
industry."
GAMA notes that general aviation contributes more than $150
billion to the US economy annually and employs more than 1,265,000
people.
In 2007, US general aviation airplane manufacturers delivered
over 3,279 airplanes to customers in the United States and abroad.
The total value of these aircraft was close to $11.9B of which 38.4
percent were exported. The general aviation industry is one of the
few remaining industries that maintain a positive trade balance for
the United States.
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