FORT WORTH, Texas--(BUSINESS WIRE)--Allied Pilots Association President Capt. Keith Wilson issued a statement regarding technical correction legislation that, if approved, would enable American Airlines employees to proceed with deferring taxes on equity received as part of the airline’s Chapter 11 restructuring.
In the House, Rep. Pete Sessions (R-TX) is the bill’s sponsor and Rep. Jim McDermott (D-WA) is the co-sponsor. In the Senate, Sen. James Inhofe (R-OK) is the bill’s sponsor and Sen. Sherrod Brown (D-OH) is the co-sponsor.
“We sincerely appreciate Sen. Inhofe and Rep. Sessions for their demonstrated commitment to fairness. Congress previously approved legislation that would permit American Airlines pilots and other workers to defer taxes on most of the equity we received in the new American Airlines, as employees from other carriers that went through bankruptcy restructuring were able to do. This technical correction legislation affirms the will of Congress, and we look forward to its prompt passage.
“Once again, we want to express our appreciation to Sen. Inhofe and Rep. Sessions for aggressively representing the interests of the many American Airlines employees who live and work in Oklahoma and Texas.”
If approved, the legislation — S. 1646 and H.R. 2865 — would amend the FAA Modernization and Reform Act of 2012 “to make a technical correction relating to the amendments made by Public Law 113-243.”
Founded in 1963, the Allied Pilots Association — the largest independent pilots’ union in the United States — is headquartered in Fort Worth, Texas. APA represents the 15,000 pilots of American Airlines and US Airways, including several hundred pilots on full-time military leave of absence serving in the armed forces. The union’s website is www.alliedpilots.org. American Airlines is the world’s largest passenger airline.
