Trump backs a federal film tax credit. What that could mean for Hollywood

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Set us as preferred For years, Hollywood has talked about a federal film and television tax credit that could help the industry combat the growing number of productions fleeing overseas.This week, the entertainment business got a glimmer of hope.After more than a year of quiet work from California lawmakers, industry lobbyists and Hollywood unions to build a bipartisan coalition, President Trump endorsed the effort in a post on Truth Social, providing a major boost to the issue.If passed, a federal incentive is expected to help draw some productions back to the Golden State, industry experts and advocates said.

While it probably won’t immediately end Southern California’s production crisis — as many states now have established film hubs stocked with experienced crews and more generous tax breaks — an added federal credit could certainly help make California more competitive, they said.Hollywood Inc.

The story of how L.A.steadily lost much of its homegrown industry to other locales is a tale of hubris, escalating costs, political inaction and fierce competition from states and countries hungry for a piece of the Hollywood pie.“I will put our crews and our talent against any talent anywhere in the world,” said Rep.

Laura Friedman (D-Glendale), a former producer who has been pushing for a national film tax credit.“If we have a level playing field upon which to shoot, where we are not much more expensive than other locations, productions will come back to Los Angeles.”Trump’s Truth Social post came after a meeting with actor Jon Voight, one of the president’s designated Hollywood ambassadors who has played a key role in lobbying for the film industry and advocating for a federal tax credit.

Though Trump has had frosty relations with Hollywood, particularly since many heavyweights did not support his presiden...