Taiwan Air Power Modernization Act of 2011 - Expresses the sense of Congress that: (1) a critical element to maintaining peace and stability in Asia in the face of China's military expansion is ensuring a militarily strong Taiwan, (2) the United States has a statutory obligation under the Taiwan Relations Act to help Taiwan maintain sufficient self-defense capabilities, and (3) the proposed fighter aircraft sale to Taiwan would have significant economic benefits to the U.S. economy.
Directs the President to carry out the sale of no fewer than 66 F-16C/D multirole fighter aircraft to Taiwan.