Industry Unites Behind U.S. Production Incentive As New Study Predicts Windfall In Jobs And Spending
Film and television studios, unions, guilds, film commissioners and entertainment industry groups have launched the U.S. Film & TV Production Coalition, a united front as a U.S production incentive begins to take shape. The group launched Tuesday along with a new study by consultancy Olsberg SPI commissioned by the Motion Picture Association laying out substantial […]
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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