Sen. Tim Scott touts federal film tax credit as a blue-collar jobs bill
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Set us as preferred Touting his love for movies, Sen.Tim Scott (R-S.C.) said he decided to co-sponsor legislation to create a federal film and television tax credit because it would help boost U.S.
blue-collar jobs and provide more diversity in how America is portrayed on screen.Scott is leading the legislative effort in the U.S.Senate alongside Sen.
Adam Schiff (D-Calif.), while a parallel bipartisan coalition is pushing for the bill in the U.S.House of Representatives.
Scott said the goal is to get the bill passed during this Congress.The bill, known as the Motion Picture, Television and Entertainment Revitalization Act, would establish a 20% tax credit on U.S.labor costs for film and TV projects that shoot 75% of their principal photography days in America and have a total production budget of more than $1 million.
Hollywood Inc.A bipartisan group of Congressional leaders is pushing for a 20% federal tax credit for film and TV production, a move they say will help bring filming back to the U.S.The bill also provides bonus credits for independent productions, as well as projects that film in federally-declared disaster areas or rural qualified opportunity zones, which Scott said would include parts of South Carolina.Today, the Palmetto State has 7,000 film production jobs, though a total of 17,000 jobs touch the film and TV industry when considering the effect on local small businesses, he said.
“The actors, the talent at that level, they get paid no matter where the films are made,” Scott told reporters during a Wednesday morning news conference.“But the people who don’t get paid are those construction workers, the caterers, the costume designers and the makeup artists.
Those folks ...they don’t get paid unless it’s done here at home.”Scott has long had an interest in film.
On Wednesday, he said one of ...