Senate Bill Includes Tax Break for Private Jets
The House approved it's version of the Republican tax reform bill on Thursday, so now it's the Senate's turn. And their version contains a nice easter egg for private jet owners. The Tax Cuts and Jobs Act would lower some of the taxes on storing and staffing private jets, Newsweek reports.
The current version of the bill exempts private plane owners and lessees from paying taxes on costs like storing, maintaining, and fueling their aircraft, along with eliminating taxes on hiring and operating crew.
Here's how the Joint Committee on Taxation describes the measure:
"Applicable services include support activities related to the aircraft itself, such as its storage, maintenance, and fueling, and those related to its operation, such as the hiring and training of pilots and crew, as well as administrative services such as scheduling, flight planning, weather forecasting, obtaining insurance, and establishing and complying with safety standards."
President Trump tweeted a congratulatory message after the bill passed the House yesterday. (That shouldn't come as a surprise, considering a Washington Post columnist pointed out how much Trump would benefit from the bill's passage and called it "something that only President Trump could love")
Congratulations to the House of Representatives for passing the #TaxCutsandJobsAct - a big step toward fulfilling our promise to deliver historic TAX CUTS for the American people by the end of the year! https://t.co/8FjefMj6hh
- Donald J. Trump (@realDonaldTrump) November 16, 2017
Trump's administration hasn't had the best luck with private-jet travel though. In September, then-secretary of Health and Human Services Tom Price resigned after it was revealed that he reportedly spent hundreds of thousands of dollars of taxpayers' money trips on military aircraft and private chartered flights.
More recently, a report from the inspector general for the Department of the Interior found that Interior Secretary Ryan Zinke failed to properly document his own private-aircraft trips and whether his wife paid for her own travel on the agency's official flights.
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