Aviation Community Furious About Obama Bizjet Comments

When President Obama criticized tax breaks for owners of corporate jets during the first debate with contender Mitt Romney on October 3, the reaction from the business aviation community was swift. Obama was referring to the allowable accelerated depreciation for capital goods, which ironically is part of a bill that he signed in 2010, HR 4853, the Tax Relief, Unemployment Insurance and Job Creation Act. What the President said during the debate was: “Why wouldn’t we eliminate tax breaks for corporate jets? My attitude is if you’ve got a corporate jet, you can probably afford to pay full freight, not get a special break for it.”

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