Federal Film Tax Incentive Would Double Annual US Production Spending by 2035, MPA Study Says
The commissioned report kicks off an all-in lobbying push by Hollywood unions and studios as a bipartisan tax credit bill gets ironed out The post Federal Film Tax Incentive Would Double Annual US Production Spending by 2035, MPA Study Says appeared first on TheWrap .
The Motion Picture Association (MPA) and its coalition of industry stakeholders, including Hollywood unions and Oscar-winning actor Jon Voight, argue that a federal film tax incentive could double annual U.S. production spending by 2035. The proposed incentive would involve transferable tax credits at a rate of 20% on qualified labor expenditures, benefiting over 143,000 jobs annually.
This coalition, spearheaded by Reps. Brian Jack (R-GA) and Laura Friedman (D-CA), aims to secure bipartisan support for the proposal, with potential passage occurring in the lame duck session following the November midterm elections.
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