The cast of Broadway’s “Hamilton” rudely lectured Vice-President elect Mike Pence on Friday but it is he, and Congressional Republicans, who might get the last laugh.
Earlier this year Broadway producers began lobbying to extend a tax deduction given to investors in their productions for the first year of a show that allows them to pay taxes only after a show turns a profit, Bloomberg News reported in June.
Now Congress is set to vote on whether or not to extend the break and many Republicans are not supportive of the idea.
“It’s crazy,” Pennsylvania Republican Representative Tom Marino, told Bloomberg. “With that kind of thinking, no matter what the circumstances, if you lose money, you can write that off. And who pays for it? Middle-class taxpayers.”
“If these guys aren’t bright enough to put anything together that makes money tell them to get out of the business,” Marino said.
It probably would be helpful if Broadway had a powerful advocate, say like a vice president, to push for their cause.
And while publicly reprimanding Pence, and angering the president-elect, might score them points from their liberal friends, it isn’t likely to do much for their investors’ bottom lines.