Aviation Groups Oppose Negative Tax Proposals on Business Aircraft | Aviation International News

Finance, Taxes, Insurance

Aviation Groups Oppose Tax Increases on Business Aircraft

Organizations say higher taxes will harm business aviation industry

By Chad Trautvetter • Online Editor

March 15, 2024

A coalition of eight aviation and labor organizations—including NBAA, GAMA, NATA, and the NetJets pilot union—are jointly opposing higher fuel taxes under the Biden Administration’s proposed fiscal year 2025 budget and regulatory changes that "single out business aviation." The groups sent a letter outlining their collective objection yesterday to U.S. Senate Committee on Finance Chairman Ron Wyden (D-Oregon) and Ranking Member Mike Crapo (R-Idaho), and U.S. House Committee on Ways and Means Chairman Jason Smith (R-Missouri) and Ranking Member Richard Neal (D-Massachusetts).

The proposal calls for a phased increase in jet fuel taxes for non-commercial operators from the current 21.9 cents per gallon to $1.06 per gallon in fiscal year 2029. If enacted, this jet fuel tax would increase to 38.64 cents in 2025, with a 16.84-cent-per-gallon increase in each subsequent year until 2029. The Administration also aims to change the depreciation schedule for a purchased business aircraft from five to seven years.

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