President Barack Obama yesterday framed the ongoing deficit reduction talks as a David and Goliath battle between kids and corporate jet owners — his strongest attack yet on claims of Republican intransigence on reaching a debt ceiling deal.
But Obama appears to have supported tax subsidies for the jets before he opposed them, National Journal reports, and many Republicans are quickly accuse him of flip-flopping on the issue.
Obama signed onto a subsidy for private planes and other capital purchases in his much-touted stimulus bill, allowing them to depreciate faster than normal in order to spur economic growth.
“Nine months ago, this president extolled the virtues of shortening depreciation schedules to stimulate jobs,” said National Business Aviation Association President and CEO Ed Bolen in a statement. “Now he seems to want to reverse course and push ahead with punitive treatment for general aviation, an industry that creates jobs, helps companies succeed, and serves communities all around America.”
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