You read that correctly.
HR 848, known as the Performance Tax could jeopardize radio stations (smaller ones). Was on my way home and heard on the radio (thought my ears were deceiving me). The money generated from this tax would not be sunk into the local community but will be given to the already deep pockets of the record industry. They would be receiving over 50% of the proceeds and seems like little will go to the actual artist.
How will the tax affect you:
- Can reduce the variety of music radio stations play
- May all but eliminate the possibility of new artists breaking onto the scene.
- Could particularly affect smaller, minority-owned stations
- Will affect your community. (Radio stations are major contributors to public service) They generate $6 billion in public service annually. Radio stations provide important news and community information. In addition our radio stations provide valuable free airtime to help your local charitable organizations.
- And because of the tax, jobs could be at risk
Here is what you can do.