WASHINGTON, DC, January 25, 2012 - In his State of the Union address before a joint session of Congress last night, President Obama embraced U.S. manufacturing in his “blueprint” for revitalizing the economy and job creation. While encouraging, the General Aviation Manufacturers Association (GAMA) hopes the president will abandon his depreciation tax proposal on business aviation that would hurt the economic recovery of the general aviation manufacturing industry.
“While we commend President Obama for his emphasis on manufacturing, we continue to warn of the negative impact his depreciation tax proposal would have on the sale of business aviation aircraft,” said GAMA President and CEO Pete Bunce. “We urge President Obama to fix his blind spot when it comes to the economic importance of business aviation. Going down the road of a changed depreciation schedule will do damage to the general aviation manufacturing industry and its hard-working employees.”
Bunce continued, “Our industry has suffered tremendously during the economic downturn. We stand ready to work with the Administration on policies that promote, rather than weaken, U.S. manufacturing.”
GAMA is an international trade association representing over 70 of the world's leading manufacturers of general aviation airplanes and rotorcraft, engines, avionics, components and related services. GAMA's members also operate repair stations, fixed based operations, pilot and maintenance training facilities and they manage fleets of aircraft. GAMA fosters and advances the welfare, safety, and interests of general aviation by working with governments and the industry to promote a better understanding of the important role general aviation plays worldwide in economic growth and development. GAMA is headquartered in Washington, DC, with a European office in Brussels, Belgium. For additional information, visit GAMA's website at www.GAMA.aero.