Members of Congress are drafting legislation that would create a 20% federal film and TV incentive — with bonuses that could bring it as high as 30% — after President Trump endorsed the idea last week.
\n\nThe bill is expected to be introduced this month, and perhaps as soon as the end of next week, according to sources familiar with the process. Rep. Nathaniel Moran, a Republican from East Texas, is working on the bill with Rep. Linda Sanchez, a Democrat from Whittier, Calif. Both serve on the House Ways and Means Committee, which is responsible for tax legislation.
\n\nRep. Laura Friedman, a Democrat from Burbank, Calif., has also been working with Rep. Brian Jack, a Republican from the Atlanta suburbs, on the bipartisan effort.
\n\nFor the last year, the Motion Picture Association and entertainment unions have been advocating for an incentive that would compete with generous subsidies from the U.K., Canada, Australia and scores of other countries. Trump threw his weight behind the idea in a Truth Social post on Aug. 31, a development expected to unlock Republican support on Capitol Hill.
\n\nThe draft legislation broadly aligns with the MPA’s request. The bill would offer a base credit of…
Original source: https://variety.com/