California's film and TV tax credit is working, but federal help is needed, lawmakers say
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California’s economy might see a boost from the state’s expanded film and TV tax credits, but local lawmakers say it’s not enough.Despite Gov.Gavin Newsom authorizing an expanded $750-million film and TV tax credit program last summer, the impending merger between Paramount and Warner Bros.
and the projected budget cuts that are expected to follow have reignited fears about the loss of Hollywood jobs and U.S.-based productions.“State programs cannot simply substitute for the kind of global, federal and competitive tax incentives that are needed to bring production back to American soil and stop its offshoring,” U.S.Sen.
Adam Schiff (D-Calif.) said during a news conference at Burbank City Hall Friday morning.“We must act, and the urgency could not be greater,” said Schiff, adding that he is working on a bipartisan federal film incentive proposal that would be globally competitive.He said film tax credit programs aren’t about Hollywood’s stars, but the crew jobs productions create, including roles for set designers, carpenters and lighting crews.
“These are the people who make that magic happen.We want to keep those jobs here, and many of us are deeply concerned about what this potential merger will do to those jobs,” Schiff said.
Hollywood Inc.Medical drama ‘The Pitt’ and a ‘Family Guy’ spinoff are among the 16 shows that were awarded tax credits for filming in California.Earlier this week, the California Film Commission revealed that 16 shows had recently received tax credits for filming in the state.
The projects represent $871 million in qualified in-state spending and are expected to generate $1.3 billion in economic activity in California.Schiff said the state tax credit has generated more than $29.1 billion in motion picture production wages and supported more than 220,000 jobs.Los Angeles film activity was still down 13.2% from July th...