The Landscape in DC

The Election of 2014…

President Barack Obama

Rep. John Boehner (R-OH)Speaker of the House

Sen. Mitch McConnell (R-KY)Senate Majority Leader

Corporate Tax Reform

“Tax Inversion”

July 15, 2014

Drug Firms Make Haste To Elude Tax

By David Gelles and Chad Bray

Health care companies, like many big American corporations, have a long list of complaints: regulation, global competition and, chief of all, taxes.

But increasingly, drug makers and medical device companies have found a way to self-medicate.

By buying a small overseas competitor and reincorporating abroad – this maneuver called inversion – heath are companies are extricating themselves from the American Tax regimen. Their new international domiciles also give companies easier access to overseas cash and make additional inversions more attractive.

A Proposal On The Table…

• Reduce Advertising Deduction to 50%

• Amortize Remaining 50% over 5-10 years

• Return $169 BILLION to Government over 10 years!

Tax Reform…

Rep. Paul Ryan (R-WI)Chairman, House Ways & Means Committee

Sen. Orrin Hatch (R-UT)Chairman, Senate Finance Committee

The Prospects….

“If we can’t move a bill by summer, we’ll wait until after the election.”

-Rep. Paul Ryan (R-WI)

One Troubling Development…

Our Strongest Champion…

Chaos in the House…

Rep. Kevin Brady (R-TX)Chairman, House Ways & Means Committee (?)

The Advertising Coalition…

21st Century Fox American Advertising Federation

American Association of Advertising Agencies Association of Magazine Media

Association of National Advertisers CBS Corporation

Coalition for Healthcare Communication Grocery Manufacturers Association Interactive Advertising Bureau

National Association of Broadcasters National Cable & Telecommunications Association

National Newspaper Association Comcast / NBC Universal

Newspaper Association of America The Walt Disney Company

Viacom Inc.

A New Threat…

Clinton Goes After Pharma; Would End Tax Break for Drug AdsAims to Control Amount Spent by Drug Companies

As part of her war on high prescription prices, Democratic presidential hopeful Hillary Clinton says she would end tax breaks for televised drug ads.

She rolled out her plan at a campaign stop in Des Moines, Iowa, a proposal that also include a cap on out-of-pocket costs for prescription drugs to help patients with chronic or serious health conditions.

The AD Alliance

The Ad AllianceCordially invites you to a Lunch

And Conversation with

Senator Chuck Schumer12:30 to 2:20 P.M.

Tuesday, March 31, 2015$2,500 Host$1,500 PAC

$1,000 Individual

To Benefit Senator Schumer’s2016 Re-Election Campaign

Location:Interpublic Group

1114 Avenue of the Americas19th Floor Boardroom

New York, NY