From Valleynewslive · · 50s
Federal tax incentive aims to boost U.S. film production
New federal tax credit could save American film jobs by making U.S. filming more competitive
In brief
New federal tax credit could save American film jobs by making U.S. filming more competitive U.S. lawmakers propose 20% tax incentive for films shot domestically to counter overseas incentives Originally reported by Valleynewslive.
New federal tax credit
Lawmakers propose 20% federal tax incentive for U.S. film and TV productions
“The result is massive unemployment of the great people who made this industry work for so long”
American jobs at risk
Actor Jon Voight says overseas filming shifts have caused significant job losses in Hollywood
“The result is massive unemployment of the great people who made this industry work for so long”
Overseas competition
Canada, the U.K., and Australia offer incentives that lure American productions abroad
“It’s gotten so ridiculous that a show that’s as American as Little House on the Prairie is shot in Canada”
Local economic impact
Film production boosts local economies through jobs and spending in communities nationwide
“The film and television industry in a nutshell is a multibillion dollar factory on wheels”
Rural filming bonuses
Proposed incentives include extra rewards for productions in rural areas or states with high spending
“It’s gotten so ridiculous that a show that’s as American as Little House on the Prairie is shot in Canada”
White House support
President Trump says U.S. filmmakers need incentives to compete with Canada's tax benefits
“We don’t give anything and we should”
The key point
U.S. lawmakers propose 20% tax incentive for films shot domestically to counter overseas incentives
