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OT: and now you know the rest of the story...taxes NEVER GO AWAY! "That lapse prompted carriers to raise fares equal to the amount of tax they would have collected, pocketing the windfall..." eee

By: tfwg in IDCC | Recommend this post (0)
Tue, 02 Aug 11 11:30 PM | 15 view(s)
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Msg. 41939 of 48237
(This msg. is a reply to 41938 by magillagorilla)

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OT: and now you know the rest of the story...taxes NEVER GO AWAY! "That lapse prompted carriers to raise fares equal to the amount of tax they would have collected, pocketing the windfall..." eee




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The above is a reply to the following message:
Re: OBAMA : UNEMPLOYMENT BENEFITS NEED TO BE EXTENDED, CALLS FOR PATENT REFORM
By: magillagorilla
in IDCC
Tue, 02 Aug 11 11:08 PM
Msg. 41938 of 48237

You are undoubtedly correct, but it looks like it least got the FAA shutdown terminated.

Senate looks to end FAA shutdown: lawmakers
ReutersBy Mohammad Zargham | Reuters – 40 mins ago

WASHINGTON (Reuters) - The U.S. Senate looked on Tuesday to end a partial shutdown of federal aviation programs that have held up airport construction projects and given airlines an unexpected revenue windfall.

Before leaving on a month-long recess, lawmakers scrambled to resolve disputes that have held up a temporary Federal Aviation Administration funding measure since July 22.

Senate Majority Leader Harry Reid said the chamber may wind up accepting terms set down by the House of Representatives as conditions for fully funding aviation programs through mid-September.

Democratic leaders in the House echoed Reid's comments, lending more weight to the prospect that the standoff would end on Tuesday.

The shutdown of airport runway and other improvement projects overseen by the FAA has disrupted tens of thousands of construction jobs and led to the furlough of 4,000 agency employees.

Because the agency's full funding mandate was not renewed last month, airlines were no longer required to collect certain ticket taxes.

That lapse prompted carriers to raise fares equal to the amount of tax they would have collected, pocketing the windfall that so far totals more than $250 million.

Continued shutdown until Congress returned from its August recess could have netted airlines up to $1 billion in additional revenues, something that now appears unlikely. (Editing by Mohammad Zargham)

http://news.yahoo.com/senate-may-move-end-faa-shutdown-lawmakers-182105383.html


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