Trump Calls for Federal Tax Credit to Boost U.S. Film and TV Production

Donald Trump used his Truth Social platform on Monday to champion a federal tax credit for film and television production, urging Republicans and Democrats to act swiftly. He argued that such an incentive would restore jobs lost after the 2022 streaming downturn, which saw roughly 73,000 positions disappear, especially in Los Angeles. Trump cited a recent discussion with Jon Voight, describing the current state of Hollywood as a "complete and total disaster."

The Motion Picture Association’s CEO, Charles Rivkin, welcomed the move, calling it a landmark step for the national economy. Senator Adam Schiff and other Democratic lawmakers have previously backed a similar proposal, and they say Republican support hinges on signals from the White House. The suggested credit could range from 15% to 20% of labor costs incurred in the United States.