During his Oct. 3 debate with Republican presidential nominee Mitt Romney. President Barack Obama mentioned business aviation as one of the areas he would take aim at.
“Why wouldn't we eliminate tax breaks for corporate jets? My attitude is, if you've got a corporate jet, you can probably afford to pay full freight, not get a special break for it,” Obama said.
The tax break discussed in the debate allows taxes on corporate aircraft to be depreciated over a period of five years, as opposed to the seven years allowed for commercial airliners. Obama and Democrats have proposed bringing the corporate jet depreciation schedule in line with that of airliners.
Obama and Democrats in Congress have sought repeatedly to eliminate the tax break for purchasing business jets, so far unsuccessfully. A proposal was included in Obama’s fiscal 2013 budget request. And Democrats pressed for it to be included in last year’s debt ceiling deal.
This comes as the administration had recently reiterated its support for an arbitrary $100 per flight user fee.