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Trump backs federal tax incentives to revive Hollywood
🇵🇾 Paraguay /Culture & Society

Trump backs federal tax incentives to revive Hollywood

From ABC Color · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

Newswire From a news agency New plan
  • Donald Trump called on Congress to pass bipartisan federal production incentives to prevent film and television projects from moving away from Hollywood.
  • Trump made the appeal after meeting actor Jon Voight, one of his special envoys to Hollywood on business matters.
  • The proposal follows decades of production moving abroad or to other U.S. states, a trend worsened by the pandemic and the 2023 writers’ and actors’ strikes.

Donald Trump wants Congress to move quickly on federal tax incentives designed to keep film and television production in Hollywood. He said the policy would create entertainment jobs and restore production to California, which he described as having once been the world’s film capital.

“Congress should immediately approve a federal production incentive to create jobs in the entertainment sector in the United States,” Trump wrote on his social media platform, Truth. He said the measure could be implemented quickly and efficiently and would benefit the entire country.

Congress should immediately approve a federal production incentive to create jobs in the entertainment sector in the United States.

— Donald TrumpTrump urged lawmakers to support federal incentives for film and television production.

Trump made the appeal after meeting actor Jon Voight, one of his special envoys to Hollywood on business matters. He urged Democrats and Republicans to work together on legislation to revive the U.S. film, television and entertainment industries. Trump said California currently offered no sufficient incentive to keep production there and endorsed Voight’s proposal for federal tax credits.

What we see on the big screen should be produced in what was once the world capital of cinema.

— Donald TrumpHe argued that production should return to Hollywood.

Hollywood has faced the long-running problem known as runaway production, in which major film and television projects move to countries or U.S. states offering more attractive tax benefits. The trend worsened during the COVID-19 pandemic and after the historic writers’ and actors’ strikes halted much of the industry in 2023.

Trump had threatened after returning to power to impose a 100% tariff on foreign films. Unions and studios opposed the idea, warning that it could disrupt global distribution. Industry representatives instead proposed improving tax credits similar to those offered by Canada, the United Kingdom, New Mexico and Georgia.

There are no incentives to be there, and this is seriously hurting California.

— Donald TrumpTrump explained his support for federal tax incentives after meeting Jon Voight.
About this summary

Originally published by ABC Color in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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