Unions and Democrats Push for Federal Film Tax Incentive
Key Takeaways
- Proposed 20%-30% federal tax credit for U.S. film labor costs.
- Bipartisan support includes 12 senators and multiple representatives.
- Goal is to pass the bill during the post-election lame-duck session.
- Includes bonus credits for disaster areas and independent films.
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Senator Adam Schiff and a coalition of representatives are advocating for a federal film incentive to stop the exodus of production jobs. The bill, which has gained bipartisan support from 12 senators, would provide significant tax credits for labor costs, with additional bonuses for disaster-affected areas and independent productions.
Proponents, including SAG-AFTRA leadership, argue that the U.S. must act quickly to remain competitive against global incentives. Supporters are optimistic about passing the legislation as part of a larger tax package before the end of the year.
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