Fiscal Year 2010 Federal Aviation Administration Extension Act, Part Ii
Mr. Speaker, I yield myself as much time as I may consume. (Mr. TIBERI asked and was given permission to revise and extend his remarks.) Mr. Speaker, I rise in support of H.R. 4217. Mr. Speaker, this is a straightforward bill, one that…
Mr. Speaker, I yield myself as much time as I may consume.
(Mr. TIBERI asked and was given permission to revise and extend his remarks.)
Mr. Speaker, I rise in support of H.R. 4217.
Mr. Speaker, this is a straightforward bill, one that will provide a 3-month extension of various excise taxes that support the Airport and Airway Trust Fund, as well as the trust fund's expenditure authorities. These taxes and authorities are currently scheduled to expire at the end of the month, and today's legislation will permit this Congress the time it needs to consider a longer-term FAA reauthorization bill.
As the ranking member of the Select Revenue Subcommittee within the Ways and Means Committee, I'm pleased that Chairman Rangel held a hearing earlier this year to examine tax issues related to the Airport and Airway Trust Fund. I certainly look forward to working with Chairman Rangel, Chairman Lewis, and all the members of our committee over the months ahead as we determine whether modifications to the financing structure of the Airport and Airway Trust Fund are warranted going forward. Ways and Means is clearly the appropriate committee of jurisdiction regarding these tax issues, and I anticipate working with other Ways and Means members of both parties to ensure that our committee continues to shape FAA reauthorization as it proceeds forward.
I would note for my colleagues that under the Congressional Budget Office baseline, expiring excise taxes that are dedicated to a trust fund are assumed to be extended at current rates for budgeting purposes. Consequently, the Joint Committee on Taxation is expected to score H.R. 4217 as having no revenue effect, just as it has with similar short-term extensions of FAA taxes in the past. While many Members on our side of the aisle would argue that the Congressional Budget Office and Joint Tax should make the same assumption about expiring tax relief as well, that is a bigger debate for another day. For now, it's important that we extend the current FAA excise taxes on a temporary basis, and I'm pleased to join with my colleagues on the other side of the aisle in support of this legislation today.
Mr. Speaker, I reserve the balance of my time.
Mr. Speaker, I yield 5 minutes to an expert on transportation issues in this Congress, a true leader, the gentleman from Wisconsin (Mr. Petri).
I will close by asking, again, my colleagues to support the measure. I yield back the balance of my time.