Corporate jet deductions in Congress’s crosshairs | Aviation International News

Regulations and Government

Corporate jet deductions in Congress’s crosshairs

Personal use of corporate aircraft is coming under increasing attack by Congress.
A bill has been submitted in the House of Representatives that seeks

By AIN Staff • AIN Staff

April 2, 2007

Personal use of corporate aircraft is coming under increasing attack by Congress.
A bill has been submitted in the House of Representatives that seeks to restrict a company’s ability to deduct certain portions of a flight conducted for personal use.
Titled the Corporate Jet Tax Shelter Reform Act of 2004, H.R.4352 was referred to the House Ways and Means Committee for further action.

Meanwhile, Sens. Kay Bailey Hutchison (R-Texas) and Mary Landrieu (D-La.) sponsored an amendment to the Jumpstart Our Business Strength Act (S.1637) that would limit the amounts of deductions, including depreciation, for expenses relating to personal travel on a business aircraft.

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