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.

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.