Ad Tax Deduction Under Major Threat in Draft Tax Reform Bill
The tax deduction for advertising expenses is under serious threat in the United States Congress.
We have learned that House Ways and Means Chairman Dave Camp (R-MI/4) is circulating a draft tax reform bill that would allow only a 50% deduction for advertising expenses in the year the ad is produced with the remaining 50% of expenses amortized over 10 years. We are also hearing that Chairman Camp plans on holding a committee hearing to consider the bill in the next few weeks.
It is critically important that all members of the House of Representatives hear quickly from ANA members about how dangerous and destructive this tax proposal would be. We urge you to contact your Member of Congress immediately and ask him or her to contact Ways and Means Committee Chairman Dave Camp to oppose this ad tax. We also hope you will ask them to vote against any tax reform measure that contains an ad deduction limitation or elimination. You can reach your Member of Congress through the House of Representatives website.
Again, it is vitally important that your member of Congress hear from you. We have prepared talking points you can use in your discussion with their offices.
If you have any questions, you can reach me at 202-296-2359 or at email@example.com.
We will continue to update our members on this issue which could cost the ad community many multi-billions of dollars in lost deductions in just the first year alone.