Bizav Association Urges Restoration of Bonus Depreciation Tax Rules

In written testimony delivered to the U.S. House Committee on Small Business, National Business Aviation Association president and CEO Ed Bolen last week emphasized the bizav community's support for legislation that would renew bonus depreciation for investments in strategic business assets, including aircraft. The committee is considering restoration of bonus depreciation tax rules for business investments that expired last year. Bolen called bonus depreciation "a proven incentive for businesses to accelerate replacement and purchases of essential equipment, including general aviation aircraft" and said that 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."