Democratic Senator wants new taxes on Private Jet Travel

Democrat Senator seeks to raise the taxes on private jet travel to help combat climate issues.

Let’s read the news and find out about the new bill.

Democratic Senator Wants New Taxes On Private Jet Travel

On Wednesday, a Democrat Senator from Massachusetts, Ed Markey, introduced a bill proposing a tax increase on private jet trips to curb the emission of harmful gases.

Markey said, “Billionaires and the ultra-wealthy are getting a bargain, paying less in taxes each year to fly private and contribute more pollution than millions of drivers combined on the roads below.”

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The Senator said, “The bill would require rich jet owners to pay their fair share for the environmental and infrastructure costs of their use of private jets.”

Markey mentioned a study that found private jets emit about 10 times higher than commercial airline planes per passenger.

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The Fueling Alternative Transportation with a Carbon Aviation Tax (FATCAT) Act would raise the tax for non-commercial aviation, with the return to an environmental trust fund.

The proposed bill would increase the current tax on private jet fuel from $0.22 to $1.95 per gallon. This would cost private jet users an estimated $200 per metric ton of a private jet’s carbon dioxide emissions.

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According to a report, private jets have increased significantly to 133% in the last two decades, from 9,895 in 2000 to 23,133 in mid-2022, posing serious environmental threats because they carry fewer passengers than commercial planes.

Also, the wealthiest 1% of people worldwide caused more than twice as much carbon dioxide emissions as the poorest 59% of the world’s population between 1990 and 2015.

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However, private jet users pay a smaller share of taxes used to maintain U.S. airports than commercial plane travelers, per a recent report by the Institute for Policy Studies and Patriotic Millionaires.

Again, commercial flyers pay a tax on every ticket equal to 7.5% of the fare on top of a facility charge of up to $4.50 per flight. At the same time, private jet users, among the world’s richest people with an average net worth of $190 million, only pay jet-fuel tax.

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Furthermore, the report noted that private planes comprise about one in every six flights managed by the Federal Aviation Administration’s air-traffic controllers. Still, private jet users pay only 2% of the taxes used to fund the agency.

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Markey’s bill aims to control pollution through the emission of harmful gases through private jets. The bill aligns with the country’s 2021 goal of achieving net zero greenhouse gas emissions from the United States aviation section by 2050.