"NBAA thanks President Obama for enacting this important tax provision for American businesses," said NBAA President and CEO Ed Bolen. "Now that the President has signed the measure into law, companies will be able to take advantage of the provision right away, giving them access the benefits of business aviation."

NBAA repeatedly called on Capitol Hill lawmakers to support legislation to extend accelerated depreciation for investments in strategic business assets, including aircraft. Earlier this year, NBAA joined with more than 80 American businesses and organizations to send an open letter to House and Senate leaders calling for a renewal of bonus depreciation that expired at the end of 2009, to extend the tax benefits to preserve manufacturing jobs, and at the same time give companies immediate access to the benefits of asset investments, including the purchase of business aircraft.

More recently, Bolen used an appearance on the national television show, CNBC's "Squawk on the Street," to underscore the importance of bonus depreciation for business airplane sales. Click here to view that segment on the NBAA website.

In addition, NBAA Members have used the Association's "Contact Congress" resource to reach out to elected representatives to request their support for accelerated depreciation proposals.