ECOCB535_Comp1_Mod2_Reflection.doc Comp 1/Module 2 - Reflection University of Phoenix ECOCB/535: The Digital Economy Comp 1/Module 2 “ Reflection The 1946 Federal Airport Act played a major role in the future of a
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ECOCB535_Comp1_Mod2_Reflection.doc Comp 1/Module 2 - Reflection University of Phoenix ECOCB/535: The Digital Economy Comp 1/Module 2 “ Reflection The 1946 Federal Airport Act played a major role in the future of aviation and aviation companies in the United States. The act itself did not single handedly revolutionize US airports but started a domino effect that would leave a lasting impact on innovation and physical capital. In addition to providing $500 million in grants for airport construction it initiated federal responsibility and participation whereas local governments were solely responsible prior. Full grants provided up to half of the project costs for airports as long as they met all of the federal regulations. This allowed a heightened focus on building innovative airports sizable enough to meet forecasted demand in the distant future. The act also required that any local government taxes collected in the process be funneled back into the maintenance and improvement of the airport. Furthermore, the funding was continuously extended by Truman and Eisenhower an additional decade past the original 7 year plan. The plan initially only included the runways and grounds but was then included the airports and terminal structures themselves. In 1970 Nixon replaced the Airport Act with the Airport and Airway Development act which acted as an aviation trust fund through taxation on fares, tickets, fuel, registrations, and other continuous airport administrative processes. Continuous guaranteed federa. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. .. . . . . . . . . . . . . . . . . . .. . . . .
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