American companies spent nearly $300 billion on advertising across all industries and media last year, says a study commissioned by a coalition of the nation's big advertisers, the advertising industry and media organizations.
The Advertising Coalition and the Association of National Advertisers urged that the study, by IHS Economics and Country Risk, be used as a weapon to fight congressional efforts to restrict the tax deductibility of advertising expenses.
"Recent legislation developed by former chairmen of the House and Senate tax-writing committees (Rep. Paul Ryan and former Sen. Max Baucus) have made it essential for the nation's advertisers and media to inform all Senators and Representatives about the important role advertising plays in each of their states and congressional districts," the executive summary of the report said.