Political Quotes

“On January 1, 1997, the aviation system in the United States received a serious blow when the aviation excise taxes lapsed. Together, these taxes--the 10-percent passenger ticket tax; the 6.25-percent cargo waybill tax; the $6.00 per person international departure tax; and certain general aviation fuel taxes-- account for more than 90 percent of the revenues in the airport and airway trust fund, which funds the Federal Aviation Administration and its programs. Without the collection of these revenues, the uncommitted balance of the airport and airway trust fund is quickly being depleted. In fact, it is running dry at a rate of $175 per second --more than $15 million every day. Yesterday, officials at the Department of the Treasury announced that if no action is taken to reimpose these taxes, the trust fund could be insolvent as early as March. For this reason, I am pleased to join my colleagues, Senators McCain, Hollings, and Ford, in sponsoring the Airport and Airway Trust Fund Taxes Short Term Reinstatement Act.”