28-Jul-2011 10:13 AM

Airport execs estimate cost of FAA shutdown at USD125 million and counting

American Association of Airport Executives (AAAE) unveiled (27-Jul-2011) a 'Lost Revenue Counter' on its website, documenting in real-time the amount of revenue intended for airport and air traffic control system upgrades that has been lost in the wake of the shutdown of the US Federal Aviation Administration (FAA) and the expiration of the agency's authority to collect aviation excise taxes. The US Department of Transportation estimates that USD200 million a week in tax revenue that would otherwise flow to the Airport and Airway Trust Fund will be lost as a result of the inability of Congress to provide the FAA with taxing and program authority. AAAE, has called on Congress to quickly pass a multi-year FAA reauthorization bill or a short-term extension that includes USD3515 million in Airport Improvement Program (AIP) program authority - the same amount that lawmakers approved as part of a budget agreement earlier this year. Additionally, the association has called for Congress to ensure that airlines eventually reimburse the federal government for foregone tax revenue to ensure adequate funding is available for critical airport and aviation system upgrades. [more]

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