Press release issued by The Advertising Coalition (TAC), of which News Media Alliance is a member. TAC is a non-partisan association of the media and advertising industries that is dedicated to protecting advertising from taxation or content restriction.
124 Members of Congress Oppose Tax on Advertising
Advertising Contributes to 20 million U.S. jobs and $5.8 trillion in U.S. sales
A bipartisan group of 124 Members in the U.S. House of Representatives wrote to Speaker Paul Ryan and Minority Leader Nancy Pelosi asking them to preserve the stimulative impact of advertising on the economy and “maintain the current tax treatment of advertising as a fully and immediately deductible business expense.”
Led by Reps. Kevin Yoder (R-KS) and Eliot Engel (D-NY), the letter asserts, “The potential for strengthening our economy through tax reform would be jeopardized by any proposal that imposes an advertising tax on our nation’s manufacturing, retail and service industries.”
News Media Alliance President & CEO David Chavern stated, “Advertising remains an absolutely critical source of revenue for news organizations, and is the financial means by which most Americans receive information about their communities and the world. Advertising also benefits all levels of business – from worldwide manufacturers to the local grocer – and must remain a deductible business expense.”
Click here to view the full press release.
Members of the News Media Alliance staff have contributed to this post.