GAO’s reports and testimonies give Congress, federal agencies, and the public timely, fact-based, non-partisan information that can improve government operations and save taxpayers billions of dollars.
In the past 16 years, a number of laws, accounting standards, system requirements, and related guidance have emphasized the need for cost information in the federal government, establishing requirements and accounting standards for managerial cost accounting (MCA) information.
The Federal Aviation Administration (FAA) operates one of the safest air transportation systems in the world. It is, however, a system under strain. The skies are becoming more crowded every day, with an estimated 1 billion passengers per year expected by 2015.
The Airport and Airway Trust Fund was established by the Airport and Airway Revenue Act of 1970 (P.L. 91-258) to help fund the development of a nationwide airport and airway system and to fund investments in air traffic control facilities.
Primarily because of concerns that noise from air tours over national parks could impair visitors' experiences and park resources, Congress passed the National Parks Air Tour Management Act of 2000 to regulate air tours.
Since 2001, the U.S. airline industry has confronted financial losses of previously unseen proportions. From 2001 to 2003, the industry lost $23 billion, and two of the nation's biggest airlines have gone into bankruptcy. To assist airlines, the Congress provided U.S.
The multibillion dollar Airport and Airway Trust Fund (Trust Fund) provides most of the funding for the Federal Aviation Administration (FAA). The Trust Fund relies on revenue from 10 taxes, including passenger ticket, fuel, and cargo taxes.