On Tuesday night, with no fanfare whatsoever, Congress left out a provision of the Troubled Assets Relief Program (TARP) that would have prohibited TARP beneficiaries from using bizjets. No word on exactly why the provision was deleted, but NBAA, among other aviation member organizations, is delighted. In a release on Wednesday, NBAA President Ed Bolen put it nicely, saying “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.” The bill looked to be headed for approval by as early as Thursday.
Congress Abandons Anti-Bizjet Provision
Key Takeaways:
- Congress quietly removed a provision from the Troubled Assets Relief Program (TARP) that would have prohibited beneficiary companies from using business jets.
- Aviation member organizations, such as NBAA, are pleased with this decision, as they believed the provision could lead to job losses in the general aviation community.
- The removal suggests Congress recognized the potential negative impact of the bizjet ban on the aviation sector's employment.
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