One of the initiatives of the AAF is to protect the advertising industry from government regulations or potential tax reform issues that would have a negative impact on our industry. The AAF serves as a watchdog with it's government relations team. Below is an article from Insider Radio that shows the importance of what we do:
Anyone who’s filled out a tax form knows it’s all about the fine print, but with few details in hand about where tax reform efforts stand, the prospects of a so-called ad tax remain in play. So much so that the Association of National Advertising says there remains a “serious risk” that Congress will adopt a tax code that alters how marketers can write off their advertising investment.
What’s most worrisome to ad tax opponents is Treasury secretary Steven Mnuchin, National Economic Council director Gary Cohn and congressional leaders released a one-page joint statement last week that offered few details of where things stand other than to say the goal is to reduce tax rates “as much as possible,” including lowering tax rates for small business. The so-called “big six”—which includes House Speaker Paul Ryan (R-WI) and Senate Majority Leader Mitch McConnell (R-KY) as well as Senate Finance Committee chair Orrin Hatch (R-UT) and House Ways and Means Committee chair Kevin Brady (R-TX)—also said they’ve “set aside” a proposed border adjustment tax as a way to pay for the tax breaks. Vice President Mike Pence also reiterated that the Trump administration plans to propose lowering the business tax rate to 15%, which would be the largest cut in the corporate tax rate in U.S. history. “We are going to pass the largest tax cut since the days of Ronald Reagan,” Pence told the NRF’s Retail Advocates Summit last month.
Read the full article here: