'Fiscal cliff' negotiations could bring aviation impacts
With the leaders of both political parties locked in high-stakes brinkmanship over taxes and spending, there is concern that the so-called 'fiscal cliff,' and the deep spending cuts and tax increases that would follow, could do significant damage to aviation. The FAA stands to lose $1 billion of its $15.8 billion budget if automatic spending cuts are allowed to proceed, and impacts would be felt by general aviation, aerospace manufacturers, and airline interests alike.
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