President Donald Trump is calling on Congress to pass federal tax incentives aimed at retaining entertainment production within the United States and creating domestic jobs. Actor Jon Voight and industry groups support the initiative, which proposes a 20% tax credit for labor costs on U.S. productions.
The push for federal tax incentives could significantly impact the U.S. entertainment industry's competitiveness by encouraging more film and television production to remain or return to the United States, potentially creating thousands of jobs.
U.S. President Donald Trump has called on Congress to pass federal tax incentives for the entertainment industry, aiming to retain production within the United States and create domestic jobs. Trump stated that legislation could be enacted quickly and efficiently to benefit all of America.
Trump mentioned actor Jon Voight, who has been a proponent of federal tax credits and previously met with the President to discuss the matter. Voight is part of a coalition, including the Motion Picture Association and the Directors Guild of America, working to combat the exodus of entertainment production abroad.
A specific proposal suggests a 20% federal tax credit for labor costs on film or television productions conducted in the United States. Many countries, including Canada, Australia, and the United Kingdom, already offer rich production incentives that have drawn shoots away from the U.S., despite many U.S. states offering their own credits.