Aviation Business Journal Third Quarter 2011 - (Page 13)

Obama’s Remarks Continued from page 11 very factory produces, wait for it, aircraft parts! Or, maybe he just hopes you are unaware. And, not all that long ago, September 27, 2010 to be exact, this very same White House was trumpeting the fact that the president signed legislation to extend bonus depreciation (which was a request in the president’s own budget) for business purchases of things like aircraft. So, let’s see where we are. . . 2008 Corporate Aviation is bad, September 2010 it’s okay, yesterday it was okay, but today it’s back to being bad. Flip, flop, flip. (Hope you can all keep up because I’m getting tired of following this particular bouncing ball.) I wish the president would take a moment to grasp the number of people whose jobs he may well jeopardize when he bashes aviation. Just a few words in front of a national audience can close corporate flight departments and result in significant declines in business for maintenance facilities, aircraft components shops, aircraft manufacturers, FBOs, aviation management companies, rental car companies, hotels, restaurants and dozens of other businesses directly or indirectly involved with general aviation. Think for just a moment about how many good, hard working people lost their jobs when the Big 3 auto companies shed their aircraft and flight departments. And specific to the topic at hand today, bonus depreciation for certain acquisitions, I’m at a loss to figure out why this is being made out to be an atrocity and “loophole” for corporations. How can this be a loophole if it was done on purpose? Every tangible asset a company buys is depreciated. Be it a desk, delivery truck or airplane…each is depreciated according to a defined schedule. The only thing that bonus depreciation legislation does is alter that schedule to be shorter. Oh, the humanity! So why the attack on aircraft bought under the bonus depreciation law, the law the president signed and endorsed last September, without any concern toward other corporate assets that are also benefitting from the accelerated schedule? I am not entirely sure who is briefing you on this subject, Mr. President, but I beg of you to step back and look at all the jobs you are threatening with your words. The general aviation industry employs 1.2 million people and provides $150 billion in revenue each year. If closing this “supposed” tax loophole (you know, the one you endorsed last year) and lengthening the depreciation schedules for general aviation aircraft is the saving grace towards resolving our national debt, then we all need to get a refresher course in Economics 101. I encourage all of our members to call the White House today to tell President Obama to stop bashing corporate aircraft and the general aviation industry. Otherwise, he may push one of the last, best, US-dominated industries right to the brink and take millions of middle class jobs right along with it. Editor’s Note: To catch up with other NATA blog posts or keep up with new posts, visit the homepage at www.nata. aero. Recent posts include: “It Just Wouldn’t be a Day in the Life…” on The Bergen Record columnist Mike Kelly’s commentary on Teterboro Airport, “Inside the Beltway and the Great State of California…Perfectly Inept Together”, and “It’s Time for Airports to Embrace Private Sector Initiative”. Aviation Business Journal | 3rd Quarter 2011 13 http://www.nata.aero http://www.kaiserair.com

Table of Contents for the Digital Edition of Aviation Business Journal Third Quarter 2011

Aviation Business Journal Third Quarter 2011

Aviation Business Journal Third Quarter 2011 - (Page 1)
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