The Biden administration made good on the President’s State of the Union Address promise to raise taxes on business jet operators by raising the federal tax on jet fuel fivefold over the next five years.
The White House’s 2025 budget proposal would boost the current tax of 22 cents per gallon to $1.06 by 2030. It’s estimated it would raise $1.1 billion over the five years. The proposal also includes a major funding increase for the FAA, including money to hire 2,000 air traffic controllers.
