ANA Files Comments with Senate Finance Committee on Tax Reform

ANA has filed comments with the Senate Finance Committee's Business Income Tax Working Group on tax reform, expressing our opposition to any change in the current full deductibility of advertising costs. Draft tax reform bills introduced in 2014 by former Senate Finance Committee Chair Max Baucus and former House Ways and Means Committee Chairman Dave Camp would have allowed marketers to deduct only 50 percent of their advertising costs in the year in which they were incurred, with the remaining 50 percent amortized over either a five year period (the Senate proposal) or ten years (the House proposal).

This would be a radical departure from over 100 years of corporate tax policy. It also would seriously undermine the ability of American companies to market their goods and services effectively and efficiently.  

Dan Jaffe has more on his Regulatory Rumblings blog, and you can also view our comments here.