December 7, 2017
We Must Take Action on Tax Bill
As aviation professionals, we wanted to bring to your attention an alarming issue in the current Tax Bill currently in congress for reconciliation, and ask you to join us in taking a few minutes to help address a potentially catastrophic section in this legislation. We are happy about the “Bonus Depreciation” section of the bill, providing the ability for a purchaser of a new aircraft to take all of the depreciation as an expense in year one. This will of course help.
However, the Senate version of the bill removed the ability for aircraft owners to do IRS Code 1031 tax deferred exchanges. Please see the NBAA Associate Member Advisory Council notice for details on this change. It is a clear and potentially far-ranging threat to our industry, and we are encouraging you to join us in urging our legislators to support our manufacturing base by continuing to offer this ability.
Contact our Congressional Representatives
Please contact GOP Congress members Reps. Kevin Brady of Texas, Devin Nunes of California, Peter Roskam of Illinois, Diane Black of Tennessee, Kristi Noem of South Dakota, Rob Bishop of Utah, Don Young of Alaska, Greg Walden of Oregon, and John Shimkus of Illinois. They will be working on Conference Committee Reconciliation of the Senate and House versions of the proposed Tax Bill. We want to push them for more favorable language, and a positive outcome for our industry. Changes are desperately needed to remove the offending language that would absolutely hurt the sales of new and pre-owned business aircraft.
Let’s work together to get this done. Thanks for your assistance!
Business aviation link for taking action: https://action.noplanenogain.org/
Senate contacts: https://www.senate.gov/general/contact_information/senators_cfm.cfm
House contacts: https://www.house.gov/representatives/find-your-representative
The JETNET Team
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