Some lawmakers are growing impatient with the advertising community, which they believe hasn't done enough to stop ads from appearing on sites that steal copyrighted material.
Rep. Dave Camp (R-Mich.), chairman of the House ways and means committee and the lawmaker pushing tax reform, won't seek re-election, putting one of the most powerful positions in Congress in play.
It's not often that advertisers walk out of a meeting with government officials and have good things to say about the experience. But that was the reaction from many of the 20 advertising industry representatives that met Thursday afternoon with the White House's John Podesta and his staff on big data and privacy.
Rep. Dave Camp (R-Mich.), the outgoing chairman of the House Ways and Means Committee, unveiled his tax reform package Wednesday, and the bad news for the advertising and media industries is that it includes new limits on the advertising tax deduction. As feared, Camp's proposal would cut the deduction by half in the first year with the rest amortized over 10 years.
The fate of the advertising tax deduction on the Senate side now rests with Ron Wyden (D-Ore.), who was officially confirmed by the Senate as chairman of the powerful finance committee on Thursday.
Try to follow this. Icann, the international organization that has begun to roll out hundreds of new generic top level domains over the objections of brands worried about domain abuse, is now warning brands that they are at risk of domain abuse.
Broad tax reform may be a long shot in Congress, but the advertising community is still nervous about proposals to limit the advertising tax deduction.
The longer the federal government shutdown drags on, the more likely that the advertising business will not only take a hit, but find itself in the crosshairs of corporate tax reform.
While the industry was celebrating Advertising Week in New York, 250 miles south in the nation's capitol, Congress was mulling its perennial plot to remove the standard tax deduction for advertising expenses.
There is more reason than ever for the advertising and media industries to keep a closer eye on Washington these days now that Sen. Max Baucus (D-Mont.) has announced he will retire in 2014. The powerful chairman of the Senate Finance Committee has made it all too clear that he sees tax reform as a top priority.