AAF Government Report

February 15, 2013

Clark Rector Jr., Executive Vice President – Government Affairs

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Committee Members Prepare for Tax Overhaul

The Republican and Democratic leaders of the House Ways and Means Committee have announced the formation of bipartisan working groups to report on available options in preparation for an attempt at major tax reform. The working groups, which are due to report by April 15, will examine the tax code’s interaction with subjects such as capital formation, education, multinational businesses and the real estate industry.

Committee Chairman Dave Camp, R-Mich., and Ranking Minority Member Sander Levin, D-Mich., would like to have the committee pass legislation by the end of the year.

While there are many differences between Republicans and Democrats, the goal of tax simplification and eliminating tax breaks has wide support in both parties. Advertising can be at risk in this discussion as some lawmakers view the deductibility of advertising expenses as a tax break rather than as the legitimate and necessary business expense that it is.

AAF continues to work with our ad clubs across the country, and allies in Washington, DC, to educate members of the Committee and other members of Congress about the economic benefits of advertising and the harm that would come from eliminating or reducing its deductibility.

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