Aviation officials upset with Washington talks
February 15, 2013, 01:50 pm
Certain aviation industry officials are upset with how the federal budget deficit is affecting general aviation and how Washington is handling the situation.
Craig Fuller, president and CEO of the Aircraft Owners and Pilots Association, said that they are disappointed that the Obama Administration is financially burdening the aviation industry, which helps support trade and jobs across the nation. He added that the new closing of loopholes is lengthening the depreciation schedule for business aircraft.
The federal deficit is sitting at $16.5 trillion and continues to increase at a rate of $3.2 million each day.
"Once again the Obama Administration is starting the drumbeat that we could end all the fiscal challenges our nation faces by changing the depreciation schedule for general aviation and business aviation from five to seven years,” said Pete Bunce, president and CEO of GAMA. "Their rhetoric is wrong and all it does is hurt general aviation companies and workers across this country.”
The Forbes' study Business Aviation: Maintaining Shareholder Value Through Turbulent Times showed that business aviation was able to come through the 2008 recession still showing profits, unlike every other business industry.
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