Bill Archer: “Mr. Speaker, today I bring before the House a bill, H.R. 668, the Airport and Airway Trust Fund Tax Reinstatement Act of…”

“Mr. Speaker, today I bring before the House a bill, H.R. 668, the Airport and Airway Trust Fund Tax Reinstatement Act of 1997. This bipartisan legislation was requested by the administration and is urged by airport authorities and operators across the country to restore funding to the Airport and Airway Trust Fund. It is critical that the House pass H.R. 668 without delay or change. Absent the additional trust fund revenues this bill provides, essential aviation capital programs, including safety enhancements, will not proceed beyond the end of February. H.R. 668 corrects a $1.2 billion shortfall in the trust fund and reinforces the trust fund finances by restoring temporarily, through September 30, 1997, the 10-percent passenger ticket tax and other Airport and Airway Trust Fund excise taxes which lapse after 1996. In addition, the bill renews expired authority for the transfer of aviation taxes from general revenues into the trust fund. I cannot overstate the importance of moving this bill swiftly.”