Trump Champions Federal Tax Incentives to Revitalize U.S. Entertainment Industry
POLICY WIRE — Washington, D.C. — President Donald Trump has called on Congress to enact federal tax incentives aimed at bolstering the U.S. film and television industry. This move follows a recent...
POLICY WIRE — Washington, D.C. — President Donald Trump has called on Congress to enact federal tax incentives aimed at bolstering the U.S. film and television industry. This move follows a recent meeting with actor Jon Voight, who has been advocating for policy changes to counteract the shift of production to international locations such as the United Kingdom and Canada.
Trump expressed his concerns on social media, stating that Hollywood is experiencing a significant downturn and that California is suffering as a result. He emphasized the need for incentives to keep production within the U.S.
Industry lobbyists, including the Motion Picture Association and the Entertainment Union Coalition, have been working to garner bipartisan support for a federal tax incentive. This initiative would complement existing state-level incentives and enhance the competitiveness of U.S. production hubs.
Congressional Republicans have been awaiting Trump’s involvement before advancing legislation. This is not the first time Trump has shown interest in supporting the entertainment industry; he previously suggested tariffs on foreign-produced films.
Trump’s latest proposal includes a federal production incentive to create entertainment jobs across the nation, particularly in states with significant production investments like Georgia, New York, New Jersey, Texas, and Louisiana. This incentive would also benefit states without current state-level programs, such as Michigan.
Trump urged both parties to collaborate on crafting legislation to save the U.S. movie, television, and entertainment business. He called for immediate congressional approval of a federal production incentive.
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The proposal has received praise from industry leaders, including MPA President Charles Rivkin and Directors Guild National Executive Director Russell Hollander. They highlighted the potential of a federal incentive to strengthen the nation’s economy and make the U.S. a more competitive production location.
Congresswoman Laura Friedman and California Sen. Adam Schiff have also advocated for the passage of a federal tax incentive. Schiff proposed a 15% tax break on labor costs for U.S.-based productions, while the MPA and Voight pushed for a 20% rate.
Los Angeles Mayor Karen Bass welcomed Trump’s call for a federal production tax incentive, viewing it as a step forward for the industry.
Reporting by Policy-Wire (PW)
