Former President Donald Trump has urged Congress to quickly approve a federal tax incentive aimed at revitalizing the U.S. film and television production industry. In a social media post, Trump stated his intention to encourage both Republicans and Democrats to collaborate on legislation that would create entertainment jobs domestically and prevent further decline in Hollywood.
Trump’s endorsement lends significant weight to a proposal championed by a diverse group, including conservative actor Jon Voight and Democratic California Sen. Adam Schiff. Voight, who has previously been appointed as a special ambassador to Hollywood by Trump, has been advocating for a federal production credit to address the increasing number of studios filming outside the United States due to high production costs and taxes.
"I am going to suggest that Republicans and Democrats get together, and immediately craft Legislation to save the Movie, Television, and Entertainment Business in America," Trump wrote on Truth Social. "Congress should approve, immediately, a Federal Production Incentive to create Entertainment Jobs in America."
Trump met with Voight to discuss the proposal, describing Hollywood as a "Complete and Total Disaster" and emphasizing that "What we watch on the Silver Screen should be made in what was once the Movie and Motion Picture Capital of the World."
Schiff has also been a proponent of a national production incentive, having previously circulated a proposal for a 15% federal credit on qualifying labor expenses for U.S. productions. Industry representatives, such as Steven Paul, CEO of SP Media Group, have proposed a 20% labor credit.
Trump expressed confidence that the economic activity generated by such an incentive would ultimately yield greater revenue for the U.S. Treasury than the cost of the tax breaks. "The amount of money spent on Tax Incentives will be made up tenfold by the money pouring into the Treasury’s coffers," he stated.
The Motion Picture Association has welcomed Trump's support. Chairman and CEO Charles Rivkin issued a statement indicating the organization's willingness to collaborate with the White House and bipartisan congressional leaders to enact the incentive into law. "We applaud President Trump’s support for this vital action," Rivkin said, "and we look forward to continuing to work with the White House and bipartisan leaders in Congress to enact a meaningful and effective national incentive into law."