Contributed by Tracey Matheson
Selling planes to a terror state could yield Boeing nearly $60 billion in tax breaks.
A large coalition of Republican legislators has proposed a new plan that could provide billions in tax breaks to Boeing, a major airplane manufacturer engaged in business with Iran, the leading state-sponsor of terrorism.
The plan includes a provision that would remove government fees on exports. Since Boeing is locked in a multi-billion dollar deal to sell planes to Iran, the company could receive $56.7 billion in tax breaks.
Boeing, along with other multinational corporations, is currently lobbying in favor of the revised tax plan.
The Washington Free Beacon cited congressional sources who raised concerns about the benefit the new policy would provide Boeing at a time when Iran continues to harass the United States and test nuclear-capable weaponry. The Trump administration has vowed to stop Iran’s illicit procurement of weapons and missile technology.
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Historically, Iran has used commercial planes to smuggle weapons to terrorists across the Middle East, according to the Free Beacon. They have also repurposed commercial jets for use by the country’s rogue fighting force, the Iranian Revolutionary Guard Corps.
One policy insider who is tracking the legislation told the Free Beacon that lawmakers should be wary of providing incentives to Boeing at the same time it is engaged in business with a terror regime.
“It’s absurd that Congress would consider giving a huge tax break to a corporation that is in the process of selling $16.6 billion in planes to the Iranian regime while imposing a new tax that forces working-class American families to pay more for everyday products,” a policy insider tracking the legislation told the Free Beacon.
A senior Republican congressional source with knowledge of the plan sought to quiet critics by revealing that legislators are making behind-the-scenes moves to ensure that Boeing is not permitted to continue its deal with Iran.
H/T: Free Beacon
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