Todd Tiahrt, U.S Congressman says that bill he introduced on Thursday is designed to boost general aviation sales.
This bill, called General Aviation Jobs Act, is intended to lengthen current depreciation allowance for two more years, and cut the recovery time for noncommercial aircraft property from 5 to 3 years. The present depreciation tax provision will expire at the end of the year.
Tiahrt says that by lengthening the depreciation time this bill would anticipate promotion of the sales in general aviation industry, making business aircraft more affordable for buyers.
“With the aviation sector taking such a hard hit in recent months in Southcentral Kansas, Congress should pass this market-driven approach to stimulate our economy in Kansas,” said Tiahrt in his written statement.