WASHINGTON, DC – National Business Aviation Association (NBAA) President and CEO Ed Bolen welcomed the decision by Congress to strike language from a proposal in the U.S. House of Representatives that would have fueled general aviation job losses across the country.
The language, which was included in legislation to amend the Troubled Assets Relief Program (TARP) first passed by Congress last year, would have required companies receiving TARP funds to divest of business aircraft.
"Congress has clearly recognized that it is important to provide Americans with strong oversight of the federal dollars in the TARP program, but that the language addressing business aviation had the potential to fuel job losses for countless people in the general aviation community," said NBAA President and CEO Ed Bolen.
"We thank Congress for recognizing the importance of general aviation to companies and communities across the country with the elimination of this onerous requirement from the TARP proposal."
Bolen also recognized NBAA Members for their critical role in voicing their concerns about the TARP proposal with their Members of Congress.
"NBAA has long said that efforts by the Association in Washington are most effective if its Members also reach out to Congress," said Bolen. "My thanks to all those in NBAA's Membership who used Contact Congress to send Congress an unequivocal message of opposition to the TARP proposal. Today's outcome shows that our Members' direct participation can make a difference."
The House may approve the final version of the bill as early as tomorrow.
Subcommittee hearing focused on the future of the nation's air transportation system and a multi-year FAA reauthorization package.
Today the U.S. House of Representatives passed H.R. 508 which recognizes the value of GA to the nation's economic and transportation systems.
Wording "appears to prohibit the use of business aviation in all situations."
Ed Bolen forcefully challenged disparaging remarks about business aviation made by President Barack Obama during a June 29 White House press conference.