S 1625 · 118th Congress · Taxation

HITS Act

Introduced 2023-05-16· Sponsored by Sen. Feinstein, Dianne [D-CA]· Senate

Bill Progress

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Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S1680-1681)(2023-05-16)

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 (3)

2 Democrats1 Republican
Sen. Blackburn, Marsha [R-TN]TN
Sen. Cortez Masto, Catherine [D-NV]NV
Sen. Butler, Laphonza R. [D-CA]CA