Legislative Agenda: 2015, The Year of Reform?

"It's very harmful to our industry," Lyons points out. "Eliminating the full deductibility of advertising costs would prove to be a big hit on print manufacturers who rely heavily on the print advertising of their clients, a bread-and-butter piece of business."

Analysis: President Obama has respect for Ryan, which counts for something. And perhaps the president will be looking for another legacy item to add to his presidential trophy case to sit beside the Affordable Care Act. But once the fall arrives, thoughts will be turning to the 2016 presidential election. Comprehensive tax reform will require time to piece together, so 2017 may be more realistic.