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AAF National News

AAF Government Report | November 2017

AAF

The U.S. Congress keeps moving ahead on comprehensive tax reform. The House has passed their version of reform and the Senate is currently debating their version with amendments being offered and voted on. Neither bill includes any limitations on the full current year deduction for advertising expenses as a normal and necessary business expense. This is very good news for consumers and the advertising industry. However, it is still possible that the advertising deduction issue could be raised before tax reform is finished. Read More

AAF Alert – Tax Reform Update | November 7, 2017

AAF

The advertising industry must stay vigilant. I urge all AAF members to contact their Senators and urge them to oppose any effort to limit the full deduction for advertising expenses. If your Senator or Representative signed either the Boozman-Baldwin or Engel-Yoder letters I encourage you to contact their offices and thank them for supporting the advertising industry. These elected officials took a stand on our industry’s behalf and their support should be acknowledged. Read More

AAF Government Report | October 2017

Michael Johnson Day on the Hill March 2017

House Ways and Means Committee Chairman Kevin Brady, R-Texas, plans to release comprehensive tax reform legislation on Wednesday, November 1. According to the previously released United Framework for Fixing Our Broken Tax Code, the corporate tax rate will be lowered to 20% and many special exclusions and deductions will be repealed or restricted. The Chairman has not said which deductions would be limited, or more specifically, whether the advertising deduction will be targeted. Read More

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