…Downturn Is Over, Says GAMA

Meanwhile, GAMA is calling the miserable slump the industry has experienced over the past two years, “over.” Although piston sales dropped by about four percent overall (again, likely attributable to the G1000 certification issue) GAMA President Ed Bolen said all segments should end the year on the plus side. “The recovery is well under way and should continue through the balance of the year,” he said. A key factor in the recovery will go before Congress in the fall. Bonus depreciation on capital assets purchased by companies ends at the end of the year but a bill to extend the time limit for aircraft (because of their long build time) for a year has been passed by the Senate and House. It needs passage by a joint conference committee and then the conference version must be passed by both to become law. Congress is recessed for August but GAMA will be lobbying for a quick turnaround on the bill. “Prompt passage of the tax bill is GAMA’s top legislative priority,” said a GAMA press release.