President Trump is pushing a new way to “make Hollywood great again”: a federal tax break aimed at bringing more film and television production back to the United States.
On Monday, Trump urged Congress to move quickly on a nationwide incentive for movie and TV projects, backing a bipartisan effort designed to keep entertainment jobs from leaving the country.
“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’s support, which followed a meeting with Los Angeles mayoral candidate Spencer Pratt, could give fresh momentum to a proposal backed by an unusual mix of political voices, including conservative actor Jon Voight and Democratic California Sen. Adam Schiff.
Voight, appointed by Trump as one of his special ambassadors to Hollywood along with Sylvester Stallone and Mel Gibson, has been urging the administration to embrace a federal production credit as studios continue to film more projects overseas.
“I just had a GREAT and very interesting meeting with my Hollywood Ambassador and Movie Legend, Jon Voight!” Trump wrote.
“He hates what’s happened to it! … Hollywood is a Complete and Total Disaster!”
Trump said Voight and others in the industry were pushing federal tax incentives.
“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. “Congress should approve, immediately, a Federal Production Incentive to create Entertainment Jobs in America.”
He added, “What we watch on the Silver Screen should be made in what was once the Movie and Motion Picture Capital of the World. Let’s get this done!”
Trump said he recently met with the 87-year-old “Midnight Cowboy” star about the proposal and painted a bleak picture of Hollywood’s decline.
Voight and allies in the entertainment industry have been pushing for a federal credit on qualifying US production labor costs. The effort has brought Voight into alignment with Schiff, one of Trump’s fiercest political adversaries and a longtime target of the president.
Schiff has been pushing his own version of a national production incentive and held a Senate hearing on runaway film and television production in March.
Last year, Schiff circulated a proposal that would have offered a 15% federal credit for qualifying labor expenses on productions made in the US, according to Variety.
Reuters reported that SP Media Group CEO Steven Paul, a producer who also represents Voight, and company President Scott Karol have proposed the 20% labor credit.
Trump predicted the government would ultimately make far more money from the economic activity generated by the incentive than it would sacrifice in tax revenue.
“The amount of money spent on Tax Incentives will be made up tenfold by the money pouring into the Treasury’s coffers,” Trump wrote.
Motion Picture Association Chairman and CEO Charles Rivkin issued a statement to Variety praising Trump’s endorsement, saying the organization would work with the White House and lawmakers in both parties to turn the proposal 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.”
