Extension of Airport And Airway Excise Taxes And Trust Fund. : Prepared for Use of the Committee On Finance Jcx-11-87
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2310 Trust Fund authorizations H.R. 2310, as reported by the House authorizing committees, would extend Trust Fund authorizations for five years, fiscal years 1988-1992. Extension of aviation excise taxes and Trust Fund authority On August 3, 1987, the House Committee on Ways and Means approved a committee amendment, to be offered as a revenue -2- title to H.R. 2310, which would extend present-law aviation excise taxes for five years, January 1, 1988 through December 31, 1992. The Committee on ...Ways and Means amendment includes a provision to reduce automatically the air passenger ticket, cargo, and fuels taxes for the following calendar year, if Trust Fund appropriations for airport improvements, airway facilities and equipment, and research, engineering, and development for a fiscal year (beginning on or after October 1, 1987) total less than 90 percent of authorized levels. A tax rate reduction would occur only if the Trust Fund unobligated balance at the end of the applicable fiscal year is $2 billion or more.
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