Inside the Plan to Pass a Federal Film Tax Incentive Now That Trump Is Onboard
Washington insiders say legislation will be introduced in the House of Representatives later this month after a weeklong recess The post Inside the Plan to Pass a Federal Film Tax Incentive Now That Trump Is Onboard appeared first on TheWrap .
The American film industry has long sought a federal production tax incentive, a goal that seemed distant until recent developments. On Monday, President Donald Trump backed the idea after a meeting with actor Jon Voight, a prominent Hollywood supporter. Previously, Trump considered imposing tariffs on films produced outside the U.S. This new support comes after months of bipartisan efforts by lawmakers to introduce the incentive, now expected to be officially proposed as legislation by the end of the year.
The plan aims to provide a 20% tax credit on labor costs for productions shot in the United States. The House Ways and Means Committee will likely introduce the bill in the coming week, with the details to be finalized. The incentive is seen as a significant boost to an industry that has faced a steady exodus of production opportunities due to competing foreign incentives.
The White House emphasizes President Trump's commitment to "Make Hollywood Great Again," while Republicans in key committees express support for the policy.
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