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NBAA Applauds Congressional Letter Urging Support for Bonus Depreciation
Washington, DC, July 7, 2010 –The National Business Aviation Association (NBAA) today commended the broad bipartisan support from Members of Congress who signed a letter urging the House Ways & Means Committee extend the temporary bonus depreciation for equipment purchases in 2010, which includes general aviation (GA) aircraft.
"On behalf of our Members, and the entire general aviation community, NBAA is grateful for this broad bipartisan show of support for this jobs-creating stimulation for the entire industry," said NBAA President and CEO Ed Bolen.
The letter signed earlier this week by 11 Democrats and seven Republicans asks Ways and Means Committee Chairman Rep. Sander Levin, D-Mich., and Ranking Member Rep. David Camp, R-Mich., to incorporate the bonus depreciation in the Small Business Jobs (tax) bill that the Senate is expected to discuss in mid-July.
The Congressional letter follows an open letter that NBAA, along with more than 80 American businesses and organizations, sent to House and Senate leaders calling for a renewal of bonus depreciation that expired at the end of 2009.
"Bonus depreciation is a proven incentive for businesses to accelerate replacement and purchases of essential equipment, including GA aircraft," Bolen said. "Reinstating tax incentives will bring back more U.S. manufacturing jobs and help improve our trade balance, and at the same time enable many more American companies to continue using business aviation to succeed."
The manufacture and use of business aircraft supports more than one million jobs, contributes positively to the nationís trade balance, helps companies of all sizes be more efficient, productive and competitive and provides a vital transportation link to communities across the U.S., especially those that have lost some or all airline service in recent years.
To view a copy of the lawmakersí letter seeking to renew the bonus depreciation policy visit http://www.nbaa.org/advocacy/letters/20100630-bonus-depreciation.pdf.
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Founded in 1947 and based in Washington, DC, the National Business Aviation Association (NBAA) is the leading organization for companies that rely on general aviation aircraft to help make their businesses more efficient, productive and successful. The Association represents more than 8,000 companies and provides more than 100 products and services to the business aviation community, including the NBAA Annual Meeting & Convention, the world's largest civil aviation trade show. Learn more about NBAA at www.nbaa.org.