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From the Wichita Business Journal:
During a press conference earlier in the day, Obama called for an end to tax breaks that incentivize corporate jet purchases and usage as part of an overall strategy to cut into the national deficit.More...
In the press conference, which you can watch here, Obama also said he was in favor of repealing tax breaks to oil companies and hedge fund companies.
"I am deeply concerned about the president's comments about general aviation today," Brewer said in a statement. "Particularly during a time when many Americans are struggling to make ends meet, we cannot afford additional tax burdens and unnecessary mischaracterizations about the general aviation industry, which drives thousands of jobs, over $7 billion in economic impact here in Kansas alone, and over $1.2 billion in job payroll nationally. General aviation is a crucially important part of our national economy and an economic engine for thousands of communities across the nation, many of which would lose local manufacturing jobs or local business growth if faced with additional tax burdens."
Pete Bunce, president of the General Aviation Manufacturer's Association, and Tom Buffenbarger, president of the International Association of Machinists and Aerospace Workers, said in a joint statement that Obama's words and his plan put the entire industry at risk.Related post:
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