Press Associations Oppose Ad Tax Proposal

By: NetNewsCheck

Forty-seven press associations, representing daily and weekly newspapers across the country, have voiced their opposition to an advertising tax proposed by Sen. Max Baucus (D-Mont.), the Senate Finance Committee chairman, in his paper “Discussion Draft on Cost Recovery and Accounting Language,” which was released in December.

The ad tax proposal would require all advertisers to wait up to five years before they can fully deduct the cost of half of their advertising as a business expense.