WASHINGTON, D.C. – Pete Bunce, President and CEO of GAMA released a statement today regarding White House Press Secretary, Jay Carney’s comments on closing “loopholes” for items like corporate jets.

“Politics in Washington continues to demonstrate that facts can be conveniently overlooked when one is trying to point fingers and score sound bites.

“Once again, the Obama Administration is starting the drumbeat that we could end all the fiscal challenges our nation faces by changing the depreciation schedule for general aviation and business aircraft from five to seven years.  Their rhetoric is wrong and all it does is hurt general aviation companies and workers across this country.  Depreciation schedules for manufactured goods – everything from computers, automobiles and yes, aircraft are established to encourage businesses to buy new and improved products. Depreciation schedules help spur manufacturing sales and create jobs.

“Purchasers of jets, turboprops, rotorcraft, and piston aircraft didn’t create our country’s economic misfortunes; in fact, general aviation contributes more than $150 billion to the U.S. economy annually and employs more than 1.2 million people.  As manufacturers, we always stand ready to engage in a dialogue with regulators and political leaders to develop policies that allow us to create more manufacturing jobs.  

“Government officials, including the President fly some of the best equipped business jets on the planet and use these machines for the same purpose that businessmen and women use their aircraft – as an efficient time management and security tool.  It’s time to stop all the political games and focus on boosting general aviation to help generate jobs and grow our economy.”