AAF Government Report

June 20, 2013

Clark Rector Jr., Executive Vice President – Government Affairs

*Please note that the full AAF Government Report is available only to registered members of the AAF.

Below is a free preview of the report, including the lead story and associated links. To view the full report, you will need to visit the AAF Membership Site. If you have forgotten or do not know your AAF password, you may request a new one here. If you need additional help, please click here.

Corporations Advocate for Tax Reform

Forty-two U.S. corporations (including several AAF members) have formed a new coalition called the Alliance for Competitive Taxation (ACT). The purpose of the Alliance is to advocate for comprehensive bipartisan tax reform.

One of the primary goals of the Alliance is have the U.S. corporate tax rate lowered from 35% to 25%. This would be done by “ending corporate tax breaks and preferences.” No further detail is provided about specific “tax breaks and preferences.” Reportedly a repeal of all “tax expenditures” that benefit corporations would lower the rate to 28%, but it would take extraordinary action to lower the rate further. One of the extraordinary measures that may be under consideration would be to terminate the ordinary and necessary business expense deduction for the cost of advertising and require all advertising costs to be capitalized and amortized and deducted over three years.

AAF will continue to strenuously oppose any effort to limit the full 100% current year federal tax deduction for advertising expenses.

Get the full report

AAF Government Report is available to all members of the AAF. If you are interested in receiving an e-mailed copy, please e-mail government@aaf.org

If you are interested in receiving AAF SmartBrief, an opt-in news service, please visit www.smartbrief.com/aaf. AAF SmartBrief condenses advertising industry news from dozens of media sources into a succinct, easy to read e-mail.

Go to the Government Affairs Main Page.