With Congressman Dave Camp (R-MI) releasing an updated draft of the Congressional tax reform bill this afternoon, IAB President & CEO Randall Rothenberg released the following statement:
“In a U.S. economy still struggling to grow, the last thing to consider is a change in the tax deductibility of advertising expenditures. Advertising is the engine of consumer demand; it brings people into showrooms and stores, and generates the economic activity that creates new jobs.
Moreover, advertising is not a special interest; it is in everyone's interest. Advertising supports large companies and small businesses, auto manufacturers and quilt makers, movie theaters and pizza restaurants that deliver. Responsible stewardship of the American economy means helping these business—and all businesses—grow, and advertising is the surest way they can do that.”