Nice Timing: 'Hamilton' Stunt Happens As Broadway 'Needs Republican Votes' To Get Tax Break

Chris Menahan
InformationLiberation
Nov. 20, 2016

The cast of Hamilton's idiotic stunt may cost their executives a pretty penny.

With Obama at the helm in 2015, Broadway producers were given special tax breaks by Congress.

Now that Republicans have control of the House, Senate and presidency, their special treatment is likely going to end.

"Brilliant, absolutely brilliant of the Hamilton cast to embarrass Pence at a time when Broadway needs Republican votes in Congress. Genius," former New York Times journalist Joel Engel said of the incident on Twitter.



Engel was quoting from this article in Bloomberg News from June, Broadway Wants Longer Tax Break as 'Hamilton' Prints Money":
Alexander Hamilton introduced the idea of federal taxes. Broadway producers enjoying a record season buoyed by his namesake musical are lobbying Congress to limit what they owe.

The industry, which will celebrate its success this weekend at the Tony Awards, is fighting to keep a provision that allows live-theater backers deductions in a show’s first year. That means they’d pay tax on income only after turning a profit. The provision passed in 2015, yet needs to be extended by Congress this year to survive.

In an industry where four of five performances close without recouping startup costs, producers say such a sweetener will keep the hits coming. While the provision was tacked onto a list of tax breaks last year at the behest of New York Senator Charles Schumer, there’s no guarantee it will be continued, producers and their lobbyists say. Some lawmakers don’t like the idea. Nor do advocates of tax cuts, who say such breaks make it more difficult to reduce the burden on everyone else.

“It’s crazy,” said Representative Tom Marino, a Pennsylvania Republican who says he opposes an extension. “With that kind of thinking, no matter what the circumstances, if you lose money, you can write that off. And who pays for it? Middle-class taxpayers.”
Perhaps the Republicans should pass a special "windfall profits" tax just for Broadway instead.

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