Advertisers applaud tax bill
Advertising interest groups are applauding the tax bill passed by both the House and Senate this week for not using advertising taxes as a "pay-for" to offset other tax cuts. Rumors had circulated that lawmakers were considering eliminating some advertising deductions as much as 50% over 10 years.
Why it matters: Eliminating some advertising deductions would have had a particularly negative impact on local media that relies heavily on small business advertising. For months, ad interest groups have also been urging lawmakers to reconsider the potential impact a potential "pay-for" tax would have on jobs and economic growth.