Good catch, NAB.

As Congress considers the proposed Republican tax cut bill, the NAB wants to make sure that corporate advertising expenses remain deductible. NAB chief Gordon Smith issued a statement saying, “NAB supports today’s outline and the efforts of leaders in the U.S. Senate, House of Representatives and Administration to reform and simplify the tax code in a manner that will grow America’s economy. As lawmakers undertake the critical next step of crafting the details of this legislation, America’s broadcasters will continue to make the case that the tax reform goals of simplicity and economic growth will be undermined by any limitation to the full and immediate deductibility of business advertising costs. Advertising is a driving engine of the American economy, supporting millions of jobs and generating hundreds of billions in local economic activity, and this deduction must be fully retained in any successful tax reform effort.”

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