To provide for reconciliation pursuant to title II of H. Con. Res. 14, section 70434, Sec. 70434.
Written by .
The break is capped at $150,000 a year
The document says “shall not”Who acts: Secretary of the TreasuryHow: statuteSec. 70434 in the PDF
What the document says
“Paragraph (1) shall not apply to so much of the aggregate cost of any qualified sound recording production, or to so much of the aggregate, cumulative cost of all such qualified sound recording productions in the taxable year, as exceeds $150,000.”
The section adds a new subparagraph (C) to section 181(a)(2) of the Internal Revenue Code of 1986 so that the expensing rule does not reach cost above $150,000, whether on one production or on all such productions in the taxable year.
What the document actually says
“Paragraph (1) shall not apply to so much of the aggregate cost of any qualified sound recording production, or to so much of the aggregate, cumulative cost of all such qualified sound recording productions in the taxable year, as exceeds $150,000.”
That sentence, in plain words
The break does not reach cost above $150,000. That cap covers one recording. It also covers all such recordings in the year.
What this is about
Cost above the cap is written off the normal way. The cap does not grow with prices. It is fixed in the law.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
Provide for reconciliation pursuant to title II of H. Con. Res. 14, Public Law 119-21, sec. 70434, 139 Stat. 244 (2025). https://www.govinfo.gov/content/pkg/PLAW-119publ21/html/PLAW-119publ21.htm
This page
“The break is capped at $150,000 a year,” Provide for reconciliation pursuant to title II of H. Con. Res. 14, section 70434, Sec. 70434. Read the Mandate, https://readthemandate.org/pl-119-21/proposal/sec70434-cap/ (retrieved August 26, 2026).
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