President Donald Trump is urging Congress to advance bipartisan legislation offering tax incentives for film and television production in the United States, backing an effort led by Sens. Tim Scott and Adam Schiff.
Trump said he is working with lawmakers from both parties on the Motion Picture, Television, and Entertainment Revitalization Act. His renewed endorsement prompted Rep. Laura Friedman to call Friday for quick passage, NBC Los Angeles reported.
Introduced September 24, the proposal would offer a 20% tax credit on qualifying compensation for production work performed in the U.S., with bonuses that could raise the credit to 30%.
Under the House bill’s text, qualifying films and television productions generally must cost more than $1 million and conduct at least 75% of principal-photography days domestically. Separate provisions cover visual effects and post-production.
Trump argued the incentives would bring entertainment jobs home and repay their cost tenfold through federal revenue. I haven’t found a fiscal analysis supporting that projection.
The legislation has been referred to committees in both chambers. It has not become law.