President Trump is throwing his support behind a federal tax incentive for film and television productions after his latest meeting with actor Jon Voight, who has previously visited the White House to urge for policy changes to stem the tide against production flight to other major international hubs like the United Kingdom and Canada.
“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,” Trump wrote in a Truth Social post.
As TheWrap reported earlier this summer, entertainment industry lobbyists such as the Motion Picture Association and the Entertainment Union Coalition have spent months meeting with lawmakers on Capitol Hill to build bipartisan support for a federal tax incentive, which would stack on top of the incentives offered by dozens of states and would make those states truly competitive against other countries.
But despite that growing support, insiders told TheWrap that Congressional Republicans have been waiting for Trump to get involved on the issue before moving forward actual legislation. Trump’s post is not the first time the president has voiced interest in helping the entertainment industry, as he previously floated the idea of issuing tariffs on films produced outside of the U.S..
But this is the first time that Trump has mentioned tax incentives as a way of helping entertainment workers both in Hollywood and in other states with prominent production investment like Georgia, New York, New Jersey, Texas and Louisiana.
“Meetings are being set up with the Leaders of both Parties in order to get this done. It should be Bipartisan, especially since so much money is being lost in California, and other largely Blue States. I am going to suggest that Republicans and Democrats get together, and immediately craft Legislation to save the Movie, Television, and Entertainment Business in America,” Trump wrote. “Congress should approve, immediately, a Federal Production Incentive to create Entertainment Jobs in America.”
MPA President Charles Rivkin applauded Trump’s support.
“For over a century, American studios, casts, and crews have produced the films and series that the world wants to see,” Rivkin said. “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. We applaud President Trump’s support for this vital action, and we look forward to continuing to work with the White House and bipartisan leaders in Congress to enact a meaningful and effective national incentive into law.”
More to come…
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