So close I can taste the tax breaks.

If you asked Producers in town what they’d ask for if the genie from Aladdin came down and granted them three wishes, they’d probably say . . . lower stagehand costs, no discount tickets, and tax breaks for Broadway Investors.

Yesterday, they’d all be pipe dreams.

But today, one of them is getting closer and closer to reality.

And no, the BroadwayBox isn’t closing up its e-shop, and no, the stagehands aren’t rolling back to 1970’s wages.

But tax breaks, well, now we’re talking.

Yesterday, Sen. Charles Schumer from NY announced a bipartisan plan to get our strong-spined Broadway Investors the tax breaks they so deserve.  Schumer’s argument is the same that we’ve all been screaming for years.  “You do it for film and TV, why not Broadway?!?”

And yeah, why not?

Well, the contrarian argument against the tax break is that Broadway can’t go anywhere, so they don’t have to give a tax break . . . because there is no threat of losing the business, unlike film which can take its business and its economic impact anywhere.  Oh, and by the way, Broadway is booming, and all its theaters are full, so it’s not like we need that many more shows because we can’t even get ’em up, even if we wanted to.

That’s what Schumer’s opponents will argue, anyway.

But we know that Broadway won’t always be boomin’.  And we know we’re losing business to the UK.  And that the UK is kicking our ass in developing new, adventuresome work, because of all the money that goes to its non-profits.

If we want to stay the theatrical capital of the world, we have to guarantee that our capital stream continues to flow.  And tax breaks are part of that answer.

Support Schumer.  Send him a note on his website.  And send a note to the other Senators while you’re at it.

And I’ll keep you updated on how the bill is progressing.  I promise.

 

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Comments
  • Felicia says:

    An additional plus for the STAGE Act is that the legislation would offer tax incentives not only to Broadway investors, but to those who invest in other, non-Broadway, commercial live-theater productions as well. Off-Broadway and touring productions, for example. Let’s keep our fingers crossed that it is enacted.

  • Carvanpool says:

    Another give away to the one per-centers?

    A bipartisan bad idea.

  • Michael says:

    Chuck Schumer email sent ! I’d like to encourage anyone reading this blog to flood his office with positive leaning emails. I for one would invest if there was a tax break as most shows do not recoup.
    Frankly we should all be flooding our representatives boxes with any entertainment related emails that support Broadway ! Be well.

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Ken Davenport
Ken Davenport

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