Vindman Introduces Bill to Keep Working Families from Footing the Bill for Billionaire’s Private Jets

Washington, D.C. — Today, U.S. Representatives Eugene Vindman (Va.-07), Kristen McDonald Rivet (Mich.-08), and Greg Landsman (Ohio-01) introduced legislation to put taxpayers first by closing an unfair loophole that shifts the cost of private jets onto working families. The Stop Subsidizing Private Jets Act would close tax loopholes that allow ultra-wealthy private jet owners and corporations to write off the cost of luxury aircraft and related expenses, while preserving targeted protections for small businesses, farmers, charter and rental operators, and emergency responders who rely on aviation for legitimate purposes. “Working families shouldn’t be footing the bill so billionaires can write off private jets,” said Vindman. “Right now, the tax code allows those buying private jets worth tens of millions of dollars to receive enormous write-offs, while middle-class families do not get deductions for basics like gas or groceries. That is wrong. My bill is a commonsense fix that ends these unfair giveaways while protecting farmers, small businesses, and emergency responders who depend on aviation for real business and community needs.” “It’s ridiculous and unfair that the ultra-wealthy get million-dollar tax breaks for their private jets while working families are seeing their health care and food assistance cut,” said McDonald Rivet. “We need to get rid of this insane loophole, because if you can afford a private jet, you can afford to pay your fair share in taxes.” “The fact that our tax dollars are still funding tax breaks for someone’s private jet is insane,” said Landsman. “We have to fix the tax code so the super-wealthy stop getting special treatment, and our small businesses and farmers can actually get ahead.” Under current tax law, ultra-wealthy jet owners and corporations can write off the full cost of private jets, some valued at more than $100 million, along with related expenses like fuel, pilots, décor, and in-flight services. In the first year of bonus depreciation alone, a $100 million jet can generate a tax benefit of roughly $21 million. While the tax code already limits deductions for luxury vehicles, private jets remain fully subsidized. The Stop Subsidizing Private Jets Act would: End full-cost write-offs for private jets and related luxury expenses; and Preserve targeted exemptions for farmers, small businesses, aircraft charter and rental companies, and emergency responders who use aviation for legitimate business and essential services. The legislation is designed to make the tax code fairer by eliminating subsidies for luxury air travel while protecting those who genuinely rely on aviation to serve their communities, run their businesses, and respond to emergencies. ###