A bill to amend the Internal Revenue Code of 1954 to deny the deduction for amounts paid or incurred for certain advertisements carried by certain foreign broadcasting undertakings.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to prohibit a business expense deduction for advertisements placed with a foreign broadcast station and directed to a market in the United States if a similar deduction is denied in the country in which such station is located for an advertisement placed with a U.S. broadcast station and directed to a market in that country.…