The airlines are in favor of these changes, currently bizjet operators offer customers the added convenience of no TSA to the most lucrative customer demographic (First Class).
I'm OK with provisions to allow frequent flyers with known backgrounds to skip security, but I'm not so sure that four scary-looking dudes should be able to walk up, charter a G-V for cash, and board with whatever contraband they like. That thing weighs as much as a CRJ900...
I'm sure most operators are pretty conscientious about who they fly, but there will always be that one guy who lets the smell of money get the better of his common sense.