WASHINGTON, D.C. -- In response to today's release of a tax reform discussion draft by House Ways and Means Committee Chairman Rep. Dave Camp that includes a proposal to alter the current law that permits businesses to fully deduct their full cost of advertising in the year it is incurred, the following statement can be attributed to NAB Executive Vice President of Communications Dennis Wharton:
"NAB strongly opposes any job-killing proposal that would limit the ability of thousands of large and small businesses from fully deducting their annual advertising expenses. Advertising on local radio and television stations is a key driver of the American economy – indeed, a recent study found local broadcast advertising generates $1.05 trillion in GDP and supports 1.48 million jobs. NAB will work with lawmakers and other stakeholders to ensure the advertising tax deduction continues to create economic prosperity and well-paying jobs."
The National Association of Broadcasters is the premier advocacy association for America's broadcasters. NAB advances radio and television interests in legislative, regulatory and public affairs. Through advocacy, education and innovation, NAB enables broadcasters to best serve their communities, strengthen their businesses and seize new opportunities in the digital age. Learn more at www.nab.org.