Kevin Bogardus and Bernie Becker
November 24, 2013
Lawmakers knew they would have to tangle with K Street when they tackled tax reform. But are they ready to mess with Madison Avenue?
Sen. Max Baucus’s (D-Mont.) latest discussion draft bill for tax reform slashes into the business expense deduction for advertising. The plan could trigger a lobbying backlash from advertisers, broadcasters and cable television.
Reducing that tax break would strike at Big Media’s bottom line, but lobbyists said it would hurt Main Street as well.