Amid coverage of an unprecedented nationwide ground stop of all U.S. flights, Donald Trump renewed his call for Congress to pass a federal tax incentive for film and television production.
Posting on Truth Social, Trump highlighted the bipartisan coalition backing the proposed 20% incentive, including frequent political critic Sen. Adam Schiff (D-CA).
Trump wrote: “I am working with Senator Tim Scott and, surprisingly, Senator Adam Schiff, along with Senators John Cornyn, Raphael Warnock, Steve Daines, Bernie Moreno, Tim Sheehy, Alex Padilla, Mark Warner, Thom Tillis, Chris Coons, Katie Britt, and Dick Durbin, as well as Representatives Jason Smith, Nathaniel Moran, Brian Jack, Linda Sanchez, and many others from both parties, on the Motion Picture, Television, and Entertainment Revitalization Act. The support for bringing entertainment back to the United States has been extraordinary. Hollywood and many other communities have been virtually drained by tax incentives and other benefits offered by foreign nations. Everyone cares deeply about the motion picture and television industry—and I do as well—and we all want to preserve it. It was made in America, and it must remain in America.”
Following the Democrats’ midterm victories, which gave them control of both chambers of Congress, there is growing concern that the bill could stall while Republicans focus on a lengthy agenda during the remaining weeks of the lame-duck session before new lawmakers are sworn in. One strategy involves attaching the legislation, introduced earlier this fall, to year-end funding measures. However, that approach could simply delay the issue for several months—or risk another government shutdown—if the two sides remain deadlocked.
Cost remains another concern, as the Joint Committee on Taxation has not yet released its official estimate. Supporters, however, have already published their own analyses arguing that the incentives would generate significantly greater economic activity for states.
Trump added: “The entertainment industry has largely shifted to Canada, the United Kingdom, Australia, and other countries, but the actors, producers, and everyone involved want to return home. Crucially, hundreds of thousands of blue-collar workers will be significantly impacted by the passage of this bill. The funds spent on these tax incentives will be repaid tenfold by the revenue flowing into the Treasury.”
He also noted that meetings are being scheduled with leaders of both parties to “get this done.”
He continued: “This is a truly bipartisan effort, particularly given that so much of the revenue being lost to other countries comes from blue states. Hopefully, Republicans and Democrats will come together to finalize this actively negotiated legislation. It can be completed quickly, accurately, and efficiently—and, importantly, it will benefit all of America. Make our entertainment industry great again.”
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