HR 7886 · 116th Congress · Taxation

HITS Act

Introduced 2020-07-30· Sponsored by Rep. Sánchez, Linda T. [D-CA-38]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Subcommittee on Select Revenue Measures.(2020-07-30)

Plain Language Summary

[AI summary unavailable — showing source text] Help Independent Tracks Succeed Act or the HITS Act 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.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (20)

12 Democrats8 Republicans
Rep. Estes, Ron [R-KS-4]KS
Rep. Schiff, Adam B. [D-CA-28]CA
Rep. Fitzpatrick, Brian K. [R-PA-1]PA
Rep. Holding, George [R-NC-2]NC
Rep. Jackson Lee, Sheila [D-TX-18]TX
Rep. McCaul, Michael T. [R-TX-10]TX
Rep. Napolitano, Grace F. [D-CA-32]CA
Rep. Roby, Martha [R-AL-2]AL
Rep. Sherman, Brad [D-CA-30]CA
Rep. Chu, Judy [D-CA-27]CA
Rep. Katko, John [R-NY-24]NY
Rep. Brooks, Mo [R-AL-5]AL
Rep. Long, Billy [R-MO-7]MO
Rep. Soto, Darren [D-FL-9]FL
Rep. Lieu, Ted [D-CA-33]CA
Rep. Cooper, Jim [D-TN-5]TN
Rep. Clarke, Yvette D. [D-NY-9]NY
Rep. Titus, Dina [D-NV-1]NV
Rep. Hastings, Alcee L. [D-FL-20]FL
Rep. Rouda, Harley [D-CA-48]CA