Industry Unites Behind U.S. Production Incentive As New Study Predicts Windfall In Jobs And Spending — SkimNews
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- The U.S. Film & TV Production Coalition, joining studios, guilds, unions and film commissioners, launched Tuesday to push a 20% federal tax credit that would be stackable on top of existing state incentives.
- An Olsberg SPI study commissioned by the Motion Picture Association projects the credit would yield $249.1 billion in gross value-added contribution and $133.1 billion in additional labor income from 2027 to 2035.
- The study forecasts an annual average of 143,500 full-time equivalent jobs supported nationwide, assuming U.S. production share climbs from a projected 25-29% baseline to 65% by 2030 for film and 2032 for TV.
- President Trump's surprise August social media post backing the measure — after meeting Hollywood envoy Jon Voight — drew bipartisan support from Rep. Brian Jack (R-GA) and Rep. Laura Friedman (D-CA).
- The legislation being drafted calls for a 20% transferable credit with 5% uplifts for FEMA-declared disaster-area labor and independent productions, with a $1 million minimum spend threshold.
- Rep. Laura Friedman (D-CA) said 65 countries now compete for production and "too many Americans have lost their jobs," calling the credit "a commonsense, bipartisan fix" as the bill races against a pre-midterms legislative deadline.
Why it matters: With few legislative days remaining before midterms, the launch puts pressure on Congress to introduce the bill in the current session — the alternative is a continued decline in U.S. production share to 25% for film and 29% for TV by 2035, according to the study's own baseline projections.
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