Republican Tax Plan Gives Tax Break To Private Jet Owners But Takes Teachers' Deduction Away

Republican Tax Plan Gives Tax Break To Private Jet Owners But Takes Teachers' Deduction Away

There might not be a better symbol than this for who really benefits when Republicans "cut" taxes.

Source: Yahoo

If you're one of the lucky Americans who owns a private jet, don't fret. Republicans have your backā€”in the form of tax breaks.

The new Senate tax bill will give those who own or lease private planes breaks on the amount they pay to companies for maintenance, storage, fueling and even when they want to hire pilots and a crew onboard.

The proposal is tucked in the middle of the controversial bill's latest version, dubbed the Tax Cuts and Jobs Act. The House approved the bill Thursday and it's now headed to the Senate.

The bill's main goal is to help businesses, with hopes of spurring more competition and preventing them from moving overseas, according to The Washington Post.

But it also will help the very rich, including President Donald Trump. In fact, not as many of the wealthy will be required to pay the estate tax, which is paid when property and other assets over $5.5 million are passed on to someone's heir because lawmakers are doubling the amount to $11 million, the newspaper reported.

Update: Karoli adds:

It isn't just that they slipped in the little extras for owners of private jets, but that cuts to cover it are so amazingly petty. Teachers lose their meager $250 deduction for school supplies, but jet owners get a break.

If it weren't real, it would be something out of a cartoon or comic strip.


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