Biden administration proposes significant fuel tax hike for business jet operators

In line with President Biden’s State of the Union Address promise to address tax disparities, the Biden administration has unveiled a proposal to substantially increase the federal tax on jet fuel for business jet operators over the next five years.

The proposed hike aims to raise the current tax of 22 cents per gallon to $1.06 by 2030, with estimates suggesting it would generate $1.1 billion in revenue over the five-year period.