Contributed by Nicole Schmoll, AAF Omaha Board Member and Legislative Issues Chair
Date Announced for AAF Legislative Day and Meet and Greet Reception
Mark your calendars! We’ve set a date and reserved a room for our annual Meet and Greet event. It will be held on Wednesday, February 7 at Billy’s Tavern from 4:30 – 6:00 p.m. More details to come!
Meet Your State Senator!
Would you like to meet your state senator and protect your job? Then make plans to participate in AAF’s Legislative Day activities! On February 7 from about 11:30 a.m. – 4:00 p.m., we will host a small lunch at the State Capitol in Lincoln where we’ll hear about some important issues moving through our state legislature, receive some tips and talking points about how to communicate the value of the marketing and advertising industry to our communities, and then hold brief 15-minute meetings with our state representatives.
If you are interested in participating, please email AAF Legislative Chair Nicole Schmoll at nicoleschmoll@gmail.com . This is a great opportunity to make a positive difference for our industry!
AAF Omaha Legislative Committee Drafts Letters for Members to Send to Their Rep
As you may or may not already be aware, there is an effort underway by Congressional Leadership to enact tax reform. Removing the tax deductibility of advertising expenses is one of the measures currently being considered.
We have drafted the attached letter to the members of the Nebraska Congressional Delegation and we are asking you to consider signing it and sending it to your representative so that we can present a unified voice of dissent encouraging our elected officials to:
- Recognize the value that advertising adds to the state and local economy
- Oppose any efforts to change the current tax deductibility of advertising
Should Congress decide to no longer make advertising a tax-deductible expense, it could severely restrict the amount of money companies spend on advertising, which would adversely affect our ability to provide for ourselves and our families.
Please take a moment to download the appropriate letter from the list below, sign it and send it OR use the letter as inspiration for writing your own personal note.
Thank you in advance for your help!
AAF Tax Reform Letters – Membership BACON
AAF Tax Reform Letters – Membership FISCHER
AAF Tax Reform Letters – Membership FORTENBERRY
AAF Tax Reform Letters – Membership SASSE
AAF Tax Reform Letters – Membership SMITH
Tax Reform Plan Expected Soon
Clark Rector, Jr., Executive Vice President of Government Affairs for the American Advertising Federation issued the following update on October 30, 2017, regarding Congress’ efforts to initiate tax reform.
“House Ways and Means Committee Chairman Kevin Brady, R-Texas, plans to release comprehensive tax reform legislation on Wednesday, November 1. According to the previously released United Framework for Fixing Our Broken Tax Code, the corporate tax rate will be lowered to 20% and many “special exclusions and deductions will be repealed or restricted.” The Chairman has not said which deductions would be limited, or more specifically, whether the advertising deduction will be targeted.
Because the release of the Chairman’s plan will not be until after the publication of this issue of the Government Report, look for a special issue of the Report the week of November 6.”
Economic Forecasting Board Lowers Revenue Projections
From the Nebraska Legislature’s Unicameral Update: “The Nebraska Economic Forecasting Advisory Board voted to lower revenue projections during an Oct. 27 meeting at the State Capitol….Revenue projections for the current fiscal year and FY2018-19 were lowered, primarily due to anticipated decreases in individual income tax receipts of $115 million in FY2017-18 and $125 million in FY2018-19.
Read the full update here:
http://update.legislature.ne.gov/?p=22578
Looking Ahead to the 2018 Legislative Session
The Nebraska Legislature’s 2018 session will begin on Wednesday, January 3, 2018. The session will last 60 days, ending on Wednesday, April 18, 2018. The schedule is tentative at this point. At the beginning of the 2018 session, the newly elected Speaker will publish the permanent session calendar, which may differ from the tentative calendar.
Focus areas for the 2018 Legislative Session will be shared once announced. In the meantime, the current online calendar is available here:
http://nebraskalegislature.gov/calendar/calendar.php?cal_start_Month=01&cal_start_Year=2018
