Politics
Trump and Schiff align on federal film tax incentives to support Hollywood jobs
The rare point of agreement between the president and the California senator comes as the entertainment industry seeks to recover from losing 49,000 jobs since 2022.
The short version
- President Donald Trump and Democratic Senator Adam Schiff of California have expressed rare bipartisan agreement on the need for a federal film tax incentive.
- The entertainment industry has lost approximately 49,000 jobs since 2022, facing steep competition from other states and countries.
- The proposal faces potential legislative hurdles due to a tight congressional schedule ahead of the midterm elections.
Key facts
- President Donald Trump and Senator Adam Schiff both voiced support for a federal production incentive to keep entertainment jobs in the United States.[Fox News]
- Bureau of Labor Statistics data shows the entertainment industry has lost 49,000 jobs since 2022 following the COVID-19 pandemic and a contraction in the streaming market.[Fox News]
- Trump's proposal followed a meeting with actor Jon Voight, who serves as the U.S. special ambassador to Hollywood.[Fox News]
- California's attempt to expand its state-level Film & Television Tax Credit Program to $750 million was limited by a $5 million corporate tax credit cap imposed by Governor Gavin Newsom over three years.[Fox News]
- Georgia and New York offer larger production tax breaks than California, allocating more than $1 billion and approximately $800 million respectively, while Canada and the United Kingdom also attract productions internationally.[Fox News]
What remains uncertain
- It is unclear if Congress will prioritize or pass the proposed legislation, given a shortened schedule in September, campaign recess in October, and the subsequent lame-duck session.[Fox News]
Sources
- Trump finds unlikely ally in longtime arch nemesis as Hollywood bleeds jobsFox News - Politics