Runner Pushes For Tax Credit Extension For Joint Strike Fighter
Sacramento – Assemblywoman Sharon Runner (R-Antelope Valley) has joint authored AB 2033, legislation authored by Assemblyman Ted Liu (D-Torrance), to extend the sunset on the Joint Strike Fighter (JSF) Tax Credit for five years. “This tax credit means a great deal to our economy and California’s ability to continue aerospace manufacturing,” Runner said. “I am glad to be a part of this bipartisan effort to keep aerospace manufacturing as one of California’s largest industries.” AB 2033 would extend the sunset on this credit for five years so that the credit can serve its original purpose – to boost California’s aerospace manufacturing production.
The Joint Strike Fighter (JSF) is the next generation fighter plane developed for use by all four branches of the United States Armed Forces. Manufacturing of the JSF involves several large California companies and many smaller subcontractors. The JSF tax credit was first created in the 1998 budget deal (AB 2797), negotiated by Senator George Runner (R-Antelope Valley). The credit was intended to incentivize production and manufacturing of the JSF in California. The credit is set to sunset on December 1, 2006. AB 2033 will also expand the JSF tax credit to include any work done on the NASA Crew Exploration Vehicle (CEV) Program in California. The Crew Exploration Vehicle (CEV) Program is the project planned to be the replacement for NASA’s space shuttle fleet that is going to be replaced. NASA is currently exploring where to design, develop and manufacture CEV program where Palmdale is one of the leading sites under consideration.
“Our meetings with organized labor and the administration on this important project for California have been very positive,” Runner continued. “It is of the utmost importance that we bring all stakeholders in this venture together to