Trump Endorses U.S. Tax Incentive to Keep Hollywood Production: ‘Let’s Get This Done!’ - Variety

President Trump on Monday endorsed a federal tax incentive for film and TV production, urging Republicans and Democrats to craft bipartisan legislation to "save the Movie, Television, and Entertainment Business in America."
In a Truth Social post, Trump called on Congress to immediately approve a federal production incentive to create entertainment jobs, marking a shift from his previous repeated threats to impose a 100% tariff on films made overseas.
Industry stakeholders had sought to redirect Trump toward a tax credit modeled on incentives offered by Canada, the U.K., and 39 U.S. states, rather than tariffs.
Democratic lawmakers, notably Sen. Adam Schiff, have backed the idea; Schiff held a hearing on the topic in March, though supporters said Republicans were waiting for a signal from the White House.
Motion Picture Association CEO Charles Rivkin praised the move, saying a federal incentive would bring more production to communities across all 50 states and strengthen the economy.
Supporters cite a sharp decline in domestic production since the streaming bubble burst in 2022, with roughly 73,000 jobs lost nationwide, about two-thirds in Los Angeles; Schiff's draft bill proposed a 15% labor credit while the MPA, working with Trump's Hollywood ambassador Jon Voight, is pushing for 20%.