Bill Hopes To Boost General Aviation Sales
Republican Congressman Todd Tiahrt of Kansas Thursday introduced the General Aviation Jobs Act, designed to buoy small aircraft sales by extending bonus depreciation and more. The bill would extend the existing bonus depreciation allowance for two more years but would also shorten from five to three years the recovery period for property listed as non-commercial aircraft. Tiahrt's motivation behind the bill is to further stimulate sales of general aviation aircraft by reducing the purchase's financial impact on companies and to add an economic boost to Kansas economies. Currently, the tax provision that provides bonus depreciation allowance is set to expire by year-end.
Tiahrt said in a written statement, "With the aviation sector taking such a hard hit in recent months in south central Kansas, Congress should pass this market-driven approach to stimulate our economy in Kansas."