H.R. 3539, The Airport and Airway Trust Fund Financing Act of 2007

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

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H.R. 3539 would amend the Internal Revenue Code of 1986 to extend financing for the Airport and Airway Trust Fund.

Detailed Summary

Airport and Airway Trust Fund Financing Act of 2007 - Amends the Internal Revenue Code to: (1) impose an excise tax on aviation-grade kerosene; (2) increase the tax rate for aviation gasoline; (3) extend through FY2011 excise taxes on transportation by air of persons and property and on aviation gasoline and aviation-grade kerosene; (4) extend through FY2011 the expenditure authority for the Airport and Airway Trust Fund; and (5) dedicate increased revenues resulting from this Act to air traffic control modernization.

Status of the Legislation

Latest Major Action: 9/19/2007: Placed on the Union Calendar, Calendar No. 207.

Points in Favor

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Points Against

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