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Several Hollywood industry and labor organizations wrote to President Trump on Monday asking for tax breaks that they said would help bring more film and television production back to the United States.
Their letter was sent in response to Mr. Trump’s declaration on Truth Social this month that he would put a 100 percent tariff on films made outside the United States. It was signed by the Motion Picture Association, which represents the major Hollywood studios; the main writers’ and actors’ guilds; and the actors Jon Voight and Sylvester Stallone, two of Mr. Trump’s chosen Hollywood advisers.
“Returning more production to the United States will require a national approach and broad-based policy solutions,” the letter said.
The White House quickly walked back Mr. Trump’s tariff threat, but not before his post had put a spotlight on the declining levels of film and TV production in California and the United States. Gov. Gavin Newsom of California, who has long supported doubling his state’s tax credit for production, countered Mr. Trump by calling for a $7.5 billion federal tax credit.
The letter sent Monday focuses instead on three requests for changes to the tax code:
Extending a tax provision that allows up to $15 million of qualified film and television production expenses to be deductible in the year the expenses are incurred, instead of the year a film or television show is released. The group also asked for the limit to be raised to $30 million.
Allowing studios and production companies to carry losses to prior and future tax years.
Several Hollywood industry and labor organizations wrote to President Trump on Monday asking for tax breaks that they said would help bring more film and television production back to the United States.
Their letter was sent in response to Mr. Trump’s declaration on Truth Social this month that he would put a 100 percent tariff on films made outside the United States. It was signed by the Motion Picture Association, which represents the major Hollywood studios; the main writers’ and actors’ guilds; and the actors Jon Voight and Sylvester Stallone, two of Mr. Trump’s chosen Hollywood advisers.
“Returning more production to the United States will require a national approach and broad-based policy solutions,” the letter said.
The White House quickly walked back Mr. Trump’s tariff threat, but not before his post had put a spotlight on the declining levels of film and TV production in California and the United States. Gov. Gavin Newsom of California, who has long supported doubling his state’s tax credit for production, countered Mr. Trump by calling for a $7.5 billion federal tax credit.
The letter sent Monday focuses instead on three requests for changes to the tax code:
Extending a tax provision that allows up to $15 million of qualified film and television production expenses to be deductible in the year the expenses are incurred, instead of the year a film or television show is released. The group also asked for the limit to be raised to $30 million.
Allowing studios and production companies to carry losses to prior and future tax years.
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