U.S. Sen. Charles Schumer wants Congress to give the Great White Way a little more leeway with the taxman.
Schumer and Senator Roy Blunt (R-Mo.) proposed "Support Theaters in America Growth and Expansion (STAGE) Act," Thursday which would give Broadway productions federal tax credit. Current laws only allow television and movie productions to exempt up to $15 million when 75% of the production is done in the U.S.
As a result, hundreds of plays aren't able to recoup their investment, according to Schumer.
"Live theater must be offered the same federal tax incentives as those afforded to television and film productions, and I am urging my colleagues to give its regards to Broadway by passing the STAGE Act," he said in a statement.
Starting this year, New York state now offers theater productions that do business here a 25% tax credit.
During the 2013-2014 season, Broadway shows grossed $1.27 billion and attendance reached 12.21 million, according to the Broadway League..