Tuesday, April 24, 2012

Buffett Gets a Break on Fee


According to the Wall St Journal billionaire investor Warren Buffett has argued that wealthier Americans should pay more to Washington, a rallying cry that has become a centerpiece of President Barack Obama's re-election campaign.

But NetJets Inc., the private-jet company owned by Mr. Buffett's Berkshire Hathaway Inc., spent more than $1 million over the past three years to lobby Congress to cut a user fee, benefiting the company's well-heeled customers, who buy or lease shares in planes. The reduced fee, part of the recent Federal Aviation Administration bill that took effect earlier this month, will save customers of NetJets and other similar companies roughly $83 million ...

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