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Summary

Since the attacks of September 11th, the aviation community has seen a dramatic reduction in air travel. This has resulted in steep declines in airline revenue yields and a sharp reduction in the amount of tax revenues available to fund the Federal Aviation Administration (FAA) and the nation's airports. In addition, Congress and the aviation community have begun reassessing aviation priorities, placing a greater emphasis on security. This closely follows a time when the aviation industry was focusing on adding runways and completing modernization programs to expand aviation system capacity.