Dive summary:
- According to Dan Jaffe, top lobbyist for the Association of National Advertisers, there are proposals under consideration in both the House and Senate that would affect advertisers' ability to claim advertising expenses for tax purposes.
- Although there is no proposal on paper yet, advertising lobby groups like the ANA and the American Advertising Federation have begun lobbying lawmakers and asking advertisers for help.
- The talk of changing the tax code is part of a larger goal from Congress to close tax loopholes, and there is still a large party divide on how to do so.
From the article:
"Clark Rector, chief lobbyist for the American Advertising Federation, sent the organization's member a 'government alert' that said plans are afoot in Congress to consider the amortization of advertising costs and urging them to contact their senators and representatives, urging them to vote 'against any measure that would alter or deny the current law that permits a business to deduct the full cost of advertising in the year it is incurred.'"
