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Federal Excise Tax Rates on Aviation Fuel Extended

Congress has approved a bill that includes an extension of the current rates of federal excise tax on aviation fuel through September 30, 2017. The current rates were set to terminate on July 16, 2016 which would have resulted in all aviation fuel being taxed at a rate of $0.043 per gallon. This legislation does not address the tax rates for gasoline and diesel which are currently set to expire on September 30, 2016.