VIDEO: TIBERI FLOOR STATEMENT [AS PREPARED]: H.R.1512, THE FEDERAL AVIATION ADMINISTRATION EXTENSION ACT OF 2009
Washington,
Mar 18, 2009 -
Watch the clip of Congressman Tiberi's Floor Statement by clicking on the play button.
“Mr. Speaker, I rise in support of H.R. 1512 and ask unanimous consent to revise and extend my remarks.
“Mr. Speaker, this is a straightforward bill to provide a six-month extension of the 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 this month, and today’s legislation will permit Congress the time it needs to consider a longer-term FAA reauthorization bill.
“As the Ranking Member of the Select Revenues Subcommittee, I am pleased that Chairman Rangel has asked our panel to examine tax issues related to the transportation trust funds, including the Airport and Airway Trust Fund. I certainly look forward to working with Chairman Neal, 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 the FAA reauthorization process this year.
“I would note for my colleagues that under the CBO 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. 1512 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 CBO and JCT should make that same assumption about expiring tax cuts as well, that is a bigger debate for another day.
“For now, it is important that we extend the current FAA excise taxes on a temporary basis, and I’m pleased to join with my colleagues across the aisle in support of this legislation.
“With that, I reserve the balance of my time.”
NOTE: The bill passed the House. It now goes to the Senate for consideration.
