Feb
26
It’s Official: Camp’s Tax Proposal Would Limit Expensing of Ad Costs
Posted in: Uncategorized
In his long-awaited plan to overhaul the federal tax code, House Ways and Means Committee Chairman David Camp offered advertisers and the advertising industry a $1 million loophole to his proposal to limit the expensing of advertising costs.
But Mr. Camp’s tax plan was greeted with dismay by those who buy and sell ads.
“This is a dreadful idea,” said Dick O’Brien, a top lobbyist for the American Association of Advertising Agencies. “What he’s doing will make advertising more expensive.”
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