1. The Landscape in DC

2. The Election of 2014… President Barack Obama Rep. John Boehner (R-OH) Speaker of the House Sen. Mitch McConnell (R-KY) Senate Majority Leader

3. Corporate Tax Reform

4. “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.

5. 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!

6. Tax Reform… Rep. Paul Ryan (R-WI) Chairman, House Ways & Means Committee Sen. Orrin Hatch (R-UT) Chairman, Senate Finance Committee

7. The Prospects…. “If we can’t move a bill by summer, we’ll wait until after the election.” -Rep. Paul Ryan (R-WI)

8. One Troubling Development…

9. Our Strongest Champion…

10. Chaos in the House… Rep. Kevin Brady (R-TX) Chairman, House Ways & Means Committee (?)

11. The Advertising Coalition… 21 st 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 Manuf acturers 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.

12. A New Threat… Clinton Goes After Pharma; Would End Tax Break for Drug Ads Aims 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.

13. The AD Alliance

14. The Ad Alliance Cordially invites you to a Lunch And Conversation with Senator Chuck Schumer 12:30 to 2:20 P.M. Tuesday, March 31, 2015 $2,500 Host $1,500 PAC $1,000 Individual To Benefit Senator Schumer’s 2016 Re-Election Campaign Location: Interpublic Group 1114 Avenue of the Americas 19 th Floor Boardroom New York, NY