The prospects for a reduction in the deductibility of advertising taking place this year may be clearer by Wednesday when the U.S. House of Representatives Budget Committee meets. Washington insiders say Republicans are discussing the possibility of making only 90% of advertising expenses tax-deductible as one means of cutting the federal deficit and offering income tax relief. Republicans on Friday adjourned from their Leesburg, Va., retreat saying that cuts in "corporate welfare" were going to be necessary. A big question facing Republicans is which committee gets to decide, with a battle brewing between the House Budget Committee and the House Ways & Means Committee.
TV series coming back
Nostalgia Television unveiled a new prime-time schedule for the 1995-96 TV season, including off-network licensing deals for Worldvision's "The Streets of San Francisco" and "The Love Boat," MCA's "Marcus Welby, M.D." and "Ironside" and Twentieth Century's "The Paper Chase." In addition, Nostalgia announced it has begun production on its first four original series, including a music block, issue-oriented programs on health and wellness, current events and a lineup of specially hosted movies.