The airport and airway trust fund taxes currently are set to expire July 15, 2016. The FAA reauthorization bill (H.R. 636) would extend through September 30, 2017, the following taxes and tax rates that are dedicated to the airport and airway trust fund:
The bill does not include tax provisions unrelated to aviation.
The legislation will now be enrolled and sent to the White House for action by the president.
With congressional passage of the FAA bill, it is uncertain whether there could be another “legislative vehicle” for other tax law changes this year. For instance, a number of tax preferences—certain “tax extenders”—will expire in 2016, if not further extended. Also, technical corrections to previously enacted legislation are pending.
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