Lawmakers Propose 20% Federal Tax Credit for U.S. Film and TV Production
Updated
Updated · The New York Times · Sep 24
Lawmakers Propose 20% Federal Tax Credit for U.S. Film and TV Production
3 articles · Updated · The New York Times · Sep 24
Summary
A bill set for introduction Thursday would create the first U.S. federal tax credits for film and TV production, offering at least a 20% credit on wages for workers from actors and directors to camera crews.
The proposal aims to slow the migration of filming overseas after U.S. production slumped and tens of thousands of Hollywood workers lost jobs, deepening an industry downturn that worsened after the pandemic.
President Trump has publicly backed the effort, and the measure has bipartisan support, but passage remains uncertain in a divided Congress where industry-specific tax breaks often stall unless paired with wider incentives.
For Hollywood, even the bill's introduction marks a milestone in a decades-long push to counter the growing reality that many major movies are no longer made in America.