TITLE

Bush Wants No Funding Increase for Airport Improvements

AUTHOR(S)
Sanchez, Humberto
PUB. DATE
March 2003
SOURCE
Bond Buyer;3/27/2003, Vol. 343 Issue 31802, p5
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The U.S. President George W. Bush proposed that there be no funding increase for the Federal Aviation Administration's airport improvement program over four years, according to the legislative proposal the White House submitted to Congress during the final week of March 2003, to reauthorize FAA programs that expire on September 30. “ We were a bit disappointed with airport improvement program (AIP) funding and we will be working with lawmakers to get that number up, ” said Stephen Van Beek, a senior vice president for policy and strategic development with Airports Council International-North America. The council, which represents airports, and the American Association of Airport Executives have called on Congress to provide 4 billion dollars for the AIP in fiscal 2004 — a 600 million dollar increase over the fiscal 2003 amount. Assistance to the troubled airline industry would be beneficial to airport finances and debt, analyst believe, because the rents and landing fees they pay are typically pledged to pay off tax-exempt bonds used to finance airport improvements and expansions.
ACCESSION #
9440131

 

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