NBAA Touts Benefits of Bonus Depreciation
In written testimony delivered yesterday to the U.S. House Committee on Small Business, NBAA president and CEO Ed Bolen repeated the business aviation community’s support for legislative proposals to renew bonus depreciation for investments in strategic business assets, including aircraft. The committee held a hearing yesterday about extending the bonus depreciation for business investments that expired last year. “There is no doubt that bonus depreciation is a proven incentive for businesses to accelerate replacement and purchases of essential equipment, including general aviation aircraft,” Bolen said. Extending the tax policy would “help promote the sale of business aircraft, and preserve the good-paying manufacturing jobs that come with those sales…[and] strengthen the economic viability of all the jobs that are created by the use of those aircraft,” Bolen told the committee. Earlier this year, NBAA joined with more than 80 U.S. businesses and organizations in a joint letter urging House and Senate leaders to renew the tax incentive as one way to help continue the nation’s economic recovery.