by Sara M. Langston with the blog faculty Source: AOPA The general aviation industry could start feeling a ripple effect from Congress's inaction on a short- or long-term FAA reauthorization bill. The FAA no longer has the authority to collect an avgas tax and, according to the IRS Web page of frequently asked questions, the avgas excise tax should be reduced to 4.4 cents per gallon instead of the current 19.4 cents per gallon of avgas. Whether the savings will be noticed at the pump is unclear as fixed-base operators and dealers grapple with the consequences of inaction from Congress. Much of the fuel that is currently being sold at airports was produced before the tax lowered to 4.4 cents per gallon. [more]
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