If Congress goes along with Obama's recommendation to extend the tax depreciation schedule for corporate planes from five years to seven years companies will have less incentive to buy new planes, industry officials said. The president cited ending the special tax treatment as an example of the kind of sacrifice Republican lawmakers should make to help resolve the government's budget dilemma.This might work if Resident Obama would lead by example and give up "his" Corporate jets--Air Force One and Two and Three and Four.
"While such talk may appear to some as good politics, the reality is that it hurts one of the leading manufacturing and exporting industries in the United States," Peter Bunce, president of the aviation manufacturers association, and Thomas Buffenbarger, president of the International Association of Machinists and Aerospace Workers, said in a letter to Obama.
Obama is trying to demonize the private plane industry and engage in class warfare, Sen. Mike Johanns, R-Neb., said.
Saturday, July 2, 2011
Will Obama give up Air Force One to set example?
Makers of corporate jets say Obama tax proposal would cost jobs, hurt the economy - WJW
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