Looks like we weren’t just crying wolf when we alerted our readers, both last month and then again a couple of days ago, to the possibility that Congress might be gearing up to dilute the deductibility of advertising expenses. Yesterday NASBA — representing broadcast associations from all 50 states — sent a letter to Congress. Citing the undeniable stimulant effect of advertising, both locally and globally, and observing that the creation of disincentives to advertising can have "real consequences on the ability of [broadcast] stations to serve their communities with local programming", NASBA strongly urged Congress "to preserve the full, same year, deductibility of all advertising costs under the federal tax code." Check back here for updates.