ANA Files Comments with Senate Finance Committee in Opposition to Ad Tax Proposal
ANA filed comments with the Senate Finance Committee on Friday in opposition to Chairman Baucus’ draft proposal to amortize 50 percent of the tax deductibility of advertising expenses over a five year period. In our comments, we argued that this proposal would be counterproductive to Chairman Baucus’ stated goal of “simplify[ing] tax rules, lessen[ing] the burden on small businesses and jumpstart[ing] job growth.” We also noted the findings by IHS Global Insight, released last week by ANA and The Advertising Coalition (TAC), that advertising is an engine of economic output and job growth, and burdening it with increased taxes will only slow job creation and economic activity in the United States.
Also, TAC (of which ANA is key member) filed detailed comments with the Senate Finance Committee, pointing out the serious tax and economic arguments against this proposal.
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