Feb 24, 2013 Comments Off on Senate Dems Keep Jet ‘Loophole’ in Budget Plan Toro520
Via The Washington Free Beacon:
White House press secretary Jay Carney has spent this week blaming Republicans for sacrificing national security by favoring tax breaks for corporate jets.
However, the Senate Democratic budget plan endorsed by the White House protects the jet loophole.
ABC News reports:
Carney has brought up the corporate jet tax break at every single briefing this week.
Listening to the White House, you might think that the “balanced” Democratic plan to avert the spending cuts would close that loophole for private jets.
But you would be wrong.
According to ABC News, if the tax break for jets were included it would only generate less than $300 million a year. Additionally, the Democratic plan to eliminate tax breaks for oil and gas companies only amounts to $2 billion.
That’s a tiny fraction of the $85 billion in across-the-board cuts scheduled to go into effect this year.