In response the 2/26 release of a tax reform discussion draft by House Ways and Means Committee Chairman Rep. Dave Camp (R-MI) that includes a proposal to alter the current law that permits businesses to fully deduct their full cost of advertising in the year it is incurred, NAB EVP said: “NAB strongly opposes any job-killing proposal that would limit the ability of thousands of large and small businesses from fully deducting their annual advertising expenses. Advertising on local radio and television stations is a key driver of the American economy – indeed, a recent study found local broadcast advertising generates $1.05 trillion in GDP and supports 1.48 million jobs. NAB will work with lawmakers and other stakeholders to ensure the advertising tax deduction continues to create economic prosperity and well-paying jobs.”
Politico says Camp’s long-awaited tax reform bill “includes something to offend seemingly everyone: manufacturers, the poor, Wall Street banks, governors and deficit hawks…The Ways and Means committee chairman emphasizes what taxpayers will get in return for lower rates — a simpler, fairer code, one that will give the economy a jolt.”
RBR-TVBR observation: Oh it’ll give the economy a jolt—pretty much more of the same jolt we’ve been seeing for the past six years, but at 220 volts, not 120. Interesting this comes from the Republican side of the aisle…
And yet we just keep reelecting these morons…
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