The Senate Democratic plan - which has been endorsed by the White House and is, in fact, the only Democratic plan actively under consideration right now - doesn't touch corporate jets. We asked Carney if the White House is upset that the Senate Democrats' plan protects corporate jets. His answer:With this administration it's all about political posturing. They don't want to talk about truth...just posturing and talking points. More here. Is it just me, or does this administration have fun with the truth?
"Our position - in the president's plan that has been available for ages but republicans and some reporters pretend doesn't exist - is that the corporate jet loophole should be eliminated. We'd be fine if it were eliminated as part of the revenue component of a sequester buy-down or as part of broader tax reform in a bigger balanced deficit reduction deal. Either way. And either way, Republicans oppose it, and would rather see sequester hit than ask corporate jet owners to give up their special tax break. How is that not true?"
Even if the Senate plan did end the tax break for private jets, it wouldn't make much of a difference. The tax break - which allows the owners of private jets to depreciate their airplanes over five years instead of the standard seven years for commercial airplanes - would raise less than $300 million a year. That's a tiny fraction of the $85 billion in across-the-board cuts scheduled to go into effect this year.
Hat tip to the blog father