September 27, 2017
- Republican Tax Reform Proposal Released
- FDA To Look at DTC Warnings
- New Leadership at NAD and CARU
Republican Tax Reform Proposal Released
Senior Congressional and Administration officials have released their Unified Framework for Fixing our Broken Tax Code. The so-called “Big 6” (Treasury Secretary Steven Mnuchin, National Economic Council Director Gary Cohn, House Speaker Paul Ryan, House Ways and Means Chairman Kevin Brady, Senate Majority Leader Mitch McConnell and Senate Finance Chairman Orrin Hatch) have been negotiating the details of the plan for weeks.
plan would reduce the corporate tax rate to 20%. Many of the specific
details are yet to be determined, but in order of offset the loss of
revenue because of the significant rate reduction for businesses,
“numerous special exclusions and deductions will be repealed or
plan as released is silent as to exactly which exclusions and
deductions will be targeted. However, Treasury Department officials and
senior legislative aides to members of the tax writing committees from
both side of the aisle have confirmed to AAF and other advertising
industry representatives that advertising is still very much being
considered as a deduction that may be reduced or eliminated.
last comprehensive tax reform proposals released in 2014 by then Ways
and Means Chairman Dave Camp, R-Mich. and Finance Committee Chairman Max
Baucus, D-Mont. would have paid for lowering rates by, in part,
limiting the current year federal tax deduction for advertising to 50%
and amortizing the rest over ten (House) or five (Senate) years.
continues to meet with Administration and Congressional officials and
aides to explain to them that advertising is a key driver of the economy
and that increasing the tax burden on advertising would be
counterproductive to their goals of growth and spurring economic
activity which they are counting on to increase tax revenues.
AAF has also sent an alert to members urging them to contact their Senators and Representatives and urge them to oppose any effort to tax advertising.
FDA To Look at DTC Warnings
The U.S. Food and Drug Administration
may consider shortening the list of warnings and contraindications
found in direct-to-consumer advertising of pharmaceuticals. According
to FDA Commissioner Dr. Scott Gottlieb, the "FDA's own research on
broadcast TV drug advertisements suggests that a more targeted method
for delivering risk information may lead to better retention of those
risks." The FDA has released a Request for Information and Comments so that the public and interested parties may submit their views. The comment period closes November 20, 2017.
New Leadership at NAD and CARU
The Advertising Self-Regulatory Council (ASRC) and Council of Better Business Bureaus (CBBB) have announced the appointment of new leadership for both the National Advertising Division (NAD) and Children’s Advertising Review Unit (CARU).
Ulrich Brett has been named Director of the NAD and Dona J. Fraser has
been named Director of the CARU. Policies and procedures for NAD and
CARU are set by the ASRC. The ASRC self-regulatory system is
administered by the CBBB.
is a proud supporter of the advertising industry self-regulatory
program, which has often been recognized as one of the premiere industry
self-regulatory programs. Self-regulation increased confidence in
advertising and is good for the industry and consumers.
<< 2017 Reports | View all Government Reports >>
The AAF protects and promotes advertising at all levels of government through grassroots activities. Our nation-wide network monitors advertising-related legislation on local, state and federal levels. We put our members face-to-face with influential lawmakers while encouraging self-regulation as a preemptor to government intervention, when appropriate of course. To learn more about our advocacy efforts, click here.