Threat to Ad Deductibility Grows
New York Congressman Charles Rangel, the Chairman of the House Ways and Means Committee, the tax-writing committee, has indicated in an article in Congressional Quarterly that he would support limits on the deductibility of marketing costs for prescription drugs. This comes after earlier news that the Senate Finance Committee is seriously considering taxing advertising in order to raise revenue to finance health care reform.
That makes it even more critical that we defeat any attack on the deductibility of marketing costs in the Senate Finance Committee.
As soon as you can, please contact Senator Max Baucus, the Chairman, and all other members of the Senate Finance Committee to express your strong opposition to any restriction on the deductibility of marketing costs for prescription drug products. Contact information for those members is available at /advocacy/getfile/15251.
This is a critical bottom line issue for all marketers of all products and services. Please act now to save the tax deduction for marketing costs for your company!