Rep. Estes and Rep. Sanchez Introduce the HITS Act
WASHINGTON – Today Congressman Ron Estes (R-Kansas) and Congresswoman Linda Sanchez (D-California) introduced the Help Independent Tracks Succeed (HITS) Act – legislation that allows qualified sound recording producers to deduct 100% of production expenses in the year they are incurred. This would provide parity with film, television and live theatrical productions that already benefit from this tax provision.
"Music is a powerful language that connects people of varying generations, backgrounds and experiences. The men and women who make music – either through writing, singing, playing or producing – deserve to have the same tax benefits as artists in the film, television and live theater industries," said Rep. Estes. "The HITS Act is sound legislation that supports our creative communities throughout the United States and encourages music makers of all sizes and notoriety."
"We are living through tough times and nothing helps you escape like turning on your favorite album," said Rep. Sanchez. "Similar to many families and workers across the country, the coronavirus has also had an enormous impact on music makers. Gigs have been canceled, studios shuttered, and creative writing sessions postponed. I'm proud to introduce the HITS Act with Rep. Estes. Our bill will provide small, independent creators with a bit of help getting back to work, making the music we turn to in good times and bad."
The HITS Act is supported by the Recording Academy, the organization responsible for the GRAMMY Awards and represents more than 21,000 performers, songwriters, producers, engineers, and music professionals.
"The Recording Academy is proud to have worked alongside Reps. Sánchez and Estes to develop the key provisions in the HITS Act," said Harvey Mason jr, Chair and Interim President/CEO of the Recording Academy. "The HITS Act will make a meaningful impact and help ease the financial burden for thousands of independent creators getting back on track, eager to share their creativity with the world. It will inspire new music and create opportunities for many of the vulnerable professionals in our community to persevere during these uncertain times."
Ron Estes is a 5th generation Kansan and represents Kansas’ 4th Congressional District in the U.S. House of Representatives. He serves on the House Committee on Ways and Means.