President Joe Biden’s fiscal year 2025 budget, highlighted in recent coverage, proposes measures targeting general aviation, including business aviation, neglecting its indispensable role in our economic and business landscape that supports $247 billion in economic activity and over 1 million jobs across the country.
Proposed budget measures would single out general aviation by escalating jet fuel taxes five-fold, when these operators already pay the cost their operations impose on an air traffic system built for commercial operators. The proposal would also extend the length of time over which the cost of an aircraft can be depreciated, even though the schedule is currently in line with other comparable business investments like landscaping equipment or road vehicles.
Business aviation is crucial for American businesses. It enables swift, efficient access to remote areas and expedites the transportation of personnel and resources. It’s a lifeline for small to medium-sized companies that are the backbone of our nation’s economy.
The administration’s remarks unfairly target an industry that is essential for countless businesses and communities, vilifying a tool that helps companies be more competitive in an increasingly global market. This messaging from the White House fails to address the innovation, job creation and economic growth from this sector that has bolstered our economy for decades.
It is imperative that our policymakers recognize the true value of general and business aviation, considering its inextricable integration in our economy and lifestyles. Our leaders must recognize the diverse and substantial contributions of general and business aviation for our businesses and economic prosperity, rather than undermine it with detrimental tax policies.
Lee Boswell, president, Monee Chamber of Commerce