A proposed tax hike on private jet fuel could raise $1.8 billion a year for sustainable transit.
by Chuck Collins and Omar Ocampo, Inequality.org
Senator Edward Markey (D-MA) recently introduced legislation to increase the excise tax on private jet fuel. Representative Nydia Velazquez (D-NY-07) introduced complimentary legislation in the House. The Markey-Velazquez proposal would raise the existing excise tax from 22 cents to a $1.95 per gallon.
This would effectively levy a $200 tax on every ton of carbon emitted by a private jet. The tax would not apply to commercial flights or smaller private planes that use aviation gas.
Under the Markey-Velazquez plan, the revenue from the tax would go to the Airport & Airway Trust Fund and a newly created federal Clean Communities Trust Fund to support air monitoring for environmental justice communities and long-term investments in clean, affordable public transit across the country, including energy-efficient bus routes and passenger rail near commercial airports.
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