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President Trump Calls for Federal Film and TV Tax Incentive
The Hollywood Reporter • • general
Key Points:
- President Donald Trump expressed support for a federal film and television tax credit, urging bipartisan cooperation to pass legislation that would provide incentives for productions shooting in the U.S., aiming to revive the American entertainment industry.
- Trump highlighted the negative impact on California's industry due to lack of incentives and emphasized the need to compete with countries like Canada, the U.K., and Australia, which already offer such benefits.
- Key industry figures, including Jon Voight and the Motion Picture Association (MPA), have backed the tax credit, with the MPA and the Directors Guild of America praising Trump's endorsement and expressing readiness to work with Congress on the initiative.
- Democratic lawmakers, including Rep. Laura Friedman and Sen. Adam Schiff, also support the federal tax credit, urging swift legislative action to bring back jobs lost to international competition.
- The exact form of the legislation remains uncertain, with possibilities including inclusion in a tax package, reconciliation bill, or standalone legislation.
