Two East Coast U.S. lawmakers have introduced legislation that would update a law that helps support struggling artists.
North Carolina Republican Senator Thom Tillis and Virginia Democrat Mark Warner said the Qualified Performing Artist tax deduction has not been updated since its inception in 1986 and is currently only available to those making less than $16,000 a year, meaning that very few artists qualify.
Their bill would update and increase the income ceiling to $100,000 for individuals and $200,000 for married joint filers, allowing more lower- and middle-income performing artists to receive tax relief for work-related expenses.
They said the legislation also indexes the deduction for inflation so it automatically adjusts for increases in the cost of living in the future.
