|Congressmen Say 'Nay Nay!' to Advertising Tax
By: Dwayne W. Waite Jr.
As Corporate America and Capitol Hill continue to battle for ultimate supremacy, the AdLand community is at times thrown in the middle of the fight. It is difficult for many advertising professionals to choose the best side, since AdLand is a reliable partner to both communities.
But this time, it is not so hard to pick.
We covered this story a while back, but in case you all do not remember, there is a bill underway in Congress that would strip the the ability to deduct advertising expenditures from business taxes. This is just one of the major changes to the tax code the Republican-held Congress is looking to make.
For AdLand, this provision is highly unfavorable.
Fortunately, we have some friends in high places. Eighty-seven Congressmen presented a letter to the House leadership formally opposing this provision. In the letter, the politicians suggest that such a change would make advertising more expensive for companies, and it would be damaging to small and medium-sized businesses alike.
Not to mention the hit on the advertising industry.
Advertising, in this hyperactive, consumption-based economy, is one of the major costs of doing business. Taking away the option to consider it as an expense is illogical and counter-productive.
If the goal is to make business easier to do, why make the act of competing more expensive?
It will be interesting to see what develops. Hopefully these folks made their voices heard loud enough so this provision fades away.
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