President Trump’s endorsement for a federal tax incentive for film and TV production is already racking up bipartisan support and Hollywood backing.
He urged both parties to put their heads together to craft legislation to “save the Movie, Television, and Entertainment Business in America” from moving overseas, showcasing a presidential push long sought by those in American showbiz.
“Congress should approve, immediately, a Federal Production Incentive to create Entertainment Jobs in America,” he said in a Truth Social post Monday. “It can be done quickly, accurately, efficiently and, importantly, will benefit ALL of America.”
Meetings are being put on calendars with leaders across the aisle to make progress on this deal, he said, adding, “It should be Bipartisan, especially since so much money is being lost in California, and other largely Blue States.”
Sen. Adam Schiff, California Democrat, said in rare Trump praise that he is in “strong agreement” with the president, agreeing that Congress should immediately take up and pass a federal film tax incentive to “bring back these good-paying jobs that we’ve lost to other countries.”
“Let’s work together — Republicans and Democrats — to get this done, and bring the movie magic back to America,” he said on social media.
Another California Democrat, Rep. Laura Friedman, jumped on board, saying that she has been sitting down with the administration’s special ambassador to Hollywood, Jon Voight, congressional colleagues, unions, studios and producers for over a year to build the case for a national film and television tax credit.
“There’s no reason Canada, the UK, or Australia should be taking our jobs. We still have the best crews on the planet. It’s time we made it possible for them to stay where they belong: in America,” she said in a statement.
Mr. Trump said Mr. Voight and others in the industry are backing a federal tax incentive.
After a “very interesting” meeting with the longtime actor, Mr. Trump said that the motion picture and TV industry is “being dissipated in its entirety.”
“It has moved to Canada, and other Countries, with very little work being done anymore in the United States,” he said. “Hollywood is a Complete and Total Disaster! Despite the name, it is getting very little work. There is no incentive to be there, and it is hurting California very badly.”
Mr. Trump, who previously threatened to introduce a 100% tariff on films made overseas, was steered toward a tax credit like those offered by 39 U.S. states.
He did not lay out any financial details but predicted that any loss of federal revenue from tax incentives “will be made up tenfold by the money pouring into the Treasury’s coffers” from increased movie production.
Motion Picture Association CEO Charles Rivkin applauded the president’s initiative, adding that his organization looks forward to “continuing to work with the White House and bipartisan leaders in Congress to enact a meaningful and effective national incentive into law.”
“A federal incentive would be a landmark step toward bringing more production to local communities in all 50 states, strengthening our nation’s economy, and making our country a more competitive place to produce, create, and tell great stories,” he said in a statement.
Directors Guild of America National Executive Director Russell Hollander said that a “stackable federal tax incentive is critical for ensuring that the United States remains a competitive marketplace for production.”
“We look forward to working with the administration and Congress on a bipartisan bill that will have the greatest possible impact on promoting domestic film and television production, creating good jobs, and strengthening America’s homegrown film and television industry,” he said in a statement.
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