Highway bill affects bizav
The Senate passed the Surface Transportation Reauthorization Act (the “Highway Bill”) on May 17, which authorizes surface transportation spending through Fiscal Year 2009. The Senate legislation includes two provisions that could have an effect on business aviation if signed into law. The first amendment would expand the limitation on the deductibility of business expenses for entertainment use of employer-provided aircraft to all employees. The second amendment of concern would change procedures for paying the fuel tax on jet fuel.