For Immediate Release
New Report Underscores Massive Tax Giveaways to Private Jet Set
The Private Jet Industry Spent $56 Million Dollars to Lobby Congress to Save More than $1 Billion in Taxes for America’s Most Affluent Fliers
WASHINGTON - The Institute for Policy Studies (IPS) today released a comprehensive report highlighting the massive tax giveaways extended by the tax bill under consideration in Congress to the private jet industry. The report also looked at the significant security threats presented by private jets and the detrimental impact they present to our environment.
Some of the key findings of the study include:
- The tax cut package under consideration in the Senate maintains and expands the private jet tax carve out, while the Republican budget plan almost doubles the fees on commercial airline passengers.
- Private jets contribute less than one-tenth of the resources they use from the federal aviation administration trust fund. Commercial airline passengers heavily subsidize private jet passengers.
- Commercial jets are taxed at up to 40 times the rate of private jets on the exact same route despite identical needs in terms of transportation infrastructure.
- Private jets threaten our national security as owners can obscure their identity and passengers face zero security screening.
- A single private jet trip burns more greenhouse gases than the average American does in a whole year.
Institute for Policy Studies turns Ideas into Action for Peace, Justice and the Environment. We strengthen social movements with independent research, visionary thinking, and links to the grassroots, scholars and elected officials. I.F. Stone once called IPS "the think tank for the rest of us." Since 1963, we have empowered people to build healthy and democratic societies in communities, the US, and the world. Click here to learn more, or read the latest below.