Obama aide promises $1B in corporate-jet subsidies?
Remember when Obama was railing on about “the tax-break for corporate jets,” during the debt-ceiling fights of 2011? He repeatedly invoked this “tax break,” which was really about how some corporate jets were depreciated over five years instead of seven. The message was clear: Republicans are in bed with corporate-jet owners. His loyal legions on the Left joined thechant.
But today, Obama’s export-subsidy chief promised a billion dollars in taxpayer-backed subsidies for corporate jets, according to Bloomberg News.
Export-Import Bank Chairman Fred Hochberg plans to provide more financial aid to U.S. corporate jet manufacturers, branching out from a traditional support for Boeing Co. (BA) to help an industry where demand has suffered….
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