The Most Threatening Thing to the Advertising World
Lawmakers hold the keys to reform
Advertising is under attack in Washington on a number of fronts. It’s accused of making kids fat, taking away our privacy, even making it easier for the government to spy on us
But a proposal in Rep. Dave Camp’s tax reform package to limit the advertising tax deduction is the most threatening to the business.
Knowing that all politics is local, the ad industry has broken out the economic impact of the ad tax revision by district and state to show lawmakers that the proposal will have real consequences back home. Last week more than 50 local ad agency members of the American Advertising Federation visited their reps, data in hand.
The data pictured here are for five lawmakers who are the key players in tax reform. At the top of the list is Camp, who would like to make tax reform his legacy, and his Senate counterpart, Ron Wyden. The others are among the more influential in the tax reform and budgeting process.
While prospects for tax reform this year are slim, the prospects are good that lawmakers will tackle it eventually. So the hope for lobbyists and advocates is to keep pressing the case until the ad tax deduction is off the table.