As NBAA returns to Orlando for its annual gathering, there seem to be reasons for optimism but not outright giddiness. There is no doubt that the economy is the number-one topic for delegates at the 62nd Annual Meeting and Convention.
Troubled Asset Relief Program
For business aviation, the latest $787 billion economic stimulus bill–H.R.1, the “American Recovery and Reinvestment Act”–giveth with one hand and taketh away with the other.
Just as business aviation was girding for a fight over a Troubled Assets Relief Program (TARP) amendment that would have forced companies receiving TARP funds to dispose of their business aircraft, the House of Representatives moved to strike the language from the legislation.
NBAA is fighting to eliminate from a bill to reform the Troubled Assets Relief Program (TARP) wording that would “require divestment of private aircraft or leases.” TARP was passed by Congress in October to acquire banks’ troubled assets in an effort to unfreeze the credit market. The proposal regarding business airplanes was introduced on Friday by Rep. Barney Frank (D-Mass.), the chairman of the House Financial Services Committee.