In other words, the government would favor live-music bars over other bars. A lot of Austin club owners like that.
City and county governments don't like it, since it would cut their revenue.
On the one hand, it's good to see anyone's taxes getting cut. On the other hand, government should not be using the tax code to manipulate people and create winners and losers. It's just further interference in the market.
It would be much better to put some Libertarians in office, who would cut spending across the board, and cut everyone's taxes.