To amend the Internal Revenue Code of 1986 to exempt amounts paid for aircraft management services from the excise taxes imposed on transportation by air.

Bill 114 hr 3608, also known as the "Aircraft Management Services Tax Exemption Act," aims to make changes to the Internal Revenue Code of 1986. Specifically, this bill seeks to exempt amounts paid for aircraft management services from the excise taxes that are currently imposed on transportation by air.

Under the current tax laws, individuals or companies that use aircraft management services are subject to excise taxes on the transportation services provided. This can include services such as maintenance, crew staffing, and scheduling of flights. However, this bill proposes to eliminate these excise taxes on amounts paid for aircraft management services.

The rationale behind this bill is to provide relief to individuals and businesses that utilize aircraft management services. By exempting these payments from excise taxes, it is believed that this will help reduce the financial burden on those who rely on these services for their air transportation needs. Overall, the Aircraft Management Services Tax Exemption Act aims to make the tax code more favorable for those utilizing aircraft management services, ultimately providing a potential boost to the aviation industry.