The HITS (Help Independent Tracks Succeed) Act
Be An #ArtsHero stands in full solidarity with the HITS Act. The HITS Act was introduced by Reps. Sánchez and Estes and Senators Feinstein and Blackburn in July 2020, after having worked directly with the Recording Academy.
The HITS Act was created to help independent artists get back into the studio to create new music. “Similar to many families and workers across the country, the coronavirus has also had an enormous impact on music makers…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”, said Congresswoman Linda Sánchez.
This bill permits taxpayers to treat as currently deductible expenses the cost of qualified sound recording productions not exceeding $150,000 in a taxable year. The bill defines qualified sound recording production as certain sound recordings produced and recorded in the United States.