×

Sen. Chuck Schumer Unveils Broadway Tax Legislation

Sen. Charles Schumer (D-N.Y.) has reintroduced legislation to extend certain federal tax incentives to Broadway and live theater productions.

The Support Theaters in America Growth and Expansion Act would mean that shows and live theatrical productions would enjoy an incentive given to film and TV productions for certain costs. Under section 181 of the tax code, they are able to immediately expense up to $15 million when 75% of compensation is paid for services in the United States.

According to the Broadway League, such countries as the U.K. already allow for the immediate expensing of production costs for commercial theater productions. The disparate tax treatment, according to the league, has been driving new play and musical development to other countries. The league argues that the legislation would help lure investors, as they would be able to accelerate deductions.

The legislation is co-sponsored by Sen. Roy Blunt (R-Mo.).

Charlotte St. Martin, executive director of the Broadway League, said that such a change to the tax code would “eliminate a major impediment to attracting financing for commercial theater at virtually no cost to U.S. taxpayers.”

Popular on Variety

More Legit

  • Chasing Rainbows review

    New Jersey Theater Review: Judy Garland Bio 'Chasing Rainbows'

    Judy Garland’s voice was unparalleled and rich, an emotive contralto that lasted long into her later years with a loud and winning showiness to go with its melodramatic nuances. But that voice concealed a troubled backstory, as the woman born Frances Ethel Gumm toted the baggage of a closeted gay father, an ugly duckling’s insecurity [...]

  • Broadway Review: David Byrne's 'American Utopia'

    Broadway Review: David Byrne's 'American Utopia'

    One constant of David Byrne’s long and prolific career is his ability to grow a seemingly simple idea into something brilliant, whether it’s the melody of “Road to Nowhere” or the concept of the “Stop Making Sense” tour some 36 years ago, where the premise of bringing out nine musicians, one at a time per [...]

  • The Sound Inside review

    Broadway Review: 'The Sound Inside' Starring Mary-Louise Parker

    Mary-Louise Parker will take your breath away with her deeply felt and sensitively drawn portrait of a tenured Yale professor who treasures great literature, but has made no room in her life for someone to share that love with. The other thesp in this two-hander is Will Hochman, endearing in the supportive role of a [...]

  • Little Shop of Horrors review

    Off Broadway Review: 'Little Shop of Horrors'

    With its strains of kitschy doo-wop and its sci-fi B-movie inspirations, the quaint 1982 musical “Little Shop of Horrors” hardly seems a thing of modern-day revivalism, even despite its touches of S&M. Yet this year alone, not only is there an Off Broadway production of the blackly comic “Little Shop” featuring Jonathan Groff of Netflix’s [...]

  • The Lightning Thief review musical

    Broadway Review: 'The Lightning Thief,' The Musical

    “It’s a lot to take in right now,” says Percy Jackson, the teen hero of “The Lightning Thief,” the kid-centric fantasy musical (based on the popular Y.A. novel) that’s now on Broadway after touring the country and playing an Off Broadway run. You could say that’s a bit of an understatement from contemporary teen Percy [...]

  • The Rose Tattoo review

    Broadway Review: 'The Rose Tattoo' Starring Marisa Tomei

    “The Rose Tattoo” is what happens when a poet writes a comedy — something strange, but kind of lovely. The same might be said of director Trip Cullman’s production: Strange, if not exactly lovely. Even Marisa Tomei, so physically delicate and expressively refined, seems an odd choice to play the lusty and passionate protagonist, Serafina [...]

More From Our Brands

Access exclusive content