Washington, D.C. — Colorado U.S. Senator Michael Bennet, a member of the Senate Committee on Finance, joined U.S. Senators Mark Warner (D-Va.), Bill Hagerty (R-Tenn.), and Senate colleagues on their bipartisan legislation to provide much-needed tax relief to working artists by updating the Qualified Performing Artist (QPA) tax deduction, which allows certain performing artists to deduct the cost of expenses incurred in the course of their employment. The Performing Artist Tax Parity Act would update the thresholds of the QPA deduction to ensure that more lower- and middle-income artists can benefit from the tax break.

“The pandemic brought disruption and uncertainty to Colorado’s thriving creative community,” said Bennet. “As costs remain high, we must restore this tax deduction to give our artists relief and reduce their financial burden.”

“Senator Michael Bennet has shown great support for his constituents working in the entertainment industry by joining the Performing Artist Tax Parity Act (PATPA) as a cosponsor. The legislation is designed to restore tax fairness to middle-class arts workers who are still recovering from lost work due to the pandemic,” said Bryant Prestron, Denver Theatrical Stage, Film, and Exhibition Employees’ Union, IATSE Local 7. “PATPA will provide an avenue for IATSE 7 members to be able to deduct expenses such as transportation costs and payments for other necessary work-related expenses. IATSE Local 7 represents W-2 entertainment workers who were unfairly penalized by an unintended consequence of the 2017 Tax Cuts and Jobs Act. This bipartisan move shows Senator Bennet’s willingness to reach across the aisle to ensure his constituents receive fair treatment.”

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. The Trump tax cuts exacerbated the problem by eliminating the ability of employees in any industry to deduct work expenses.  The Performing Artist Tax Parity Act will update and increase the income ceiling to $100,000 for individuals and $200,000 for married joint filers, allowing many more lower and middle-income performing artists to receive tax relief for work-related expenses. 

The full text of the bill is available HERE.