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| Dave Camp |
Just as advertisers and media execs feared, Rep. Dave Camp
(R-Mich.), chairman of the House
Ways and Means committee, is proposing watering
down the advertising tax deduction, according to AdWeek.
Multiple sources have told advertising and media lobbyists
that the measure, which could cost advertisers millions and reduce revenue for
ad-supported media, has been written into a working draft of a tax reform bill.
The provision would allow advertisers to deduct only 50
percent of all ad expenses in the first year and amortize the remaining 50
percent over the next 10 years.
If Camp has his way, a tax reform bill will be introduced
and clear the committee by the end of the year.
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