Threat to business deduction for advertising costs still a concern as Congress releases tax reform legislation

Fortunately, H.R. 1, the tax reform package released this week by the House, does not contain a provision that would end the existing business deduction for advertising costs that the News Media Alliance (NMA) and the National Newspaper Association (NNA) are deeply concerned about.

Several weeks ago, CNPA submitted letters to Senators Feinstein and Harris as well as members from the California delegation that sit on the House Ways and Means Committee urging them to oppose the elimination of the deduction.

While the business deduction for ad costs provision was not included in H.R. 1, concern remains that elimination of the deduction could creep into subsequent versions of the bill as it moves through the Capitol.

That is why NMA and NNA have joined forces and are asking newspapers to run ads and to contact their legislators urging them to oppose the elimination of the deduction.

Here are links to the press releases from NMA and NNA.

If you are interested in contacting your representative or senator here is a list of and here is a link to a that you can use.

Watch your upcoming Legislative Bulletins or contact CNPA General Counsel Jim Ewert at 916-288-6013 for additional information on how you can help.