Congress is scrambling to stop one of the United States' most iconic industries from fleeing overseas and taking thousands of jobs along with it.The U.S.TV and film industry has been hemorrhaging work for years as production companies and movie studios flee to places like Europe and Canada for friendlier tax regimes and other attractive financial policies.
It prompted President Donald Trump to publicly call on Congress to pass legislation aimed at incentivizing entertainment studios to bring their production back home — and an unlikely alliance of lawmakers is heeding the call.A new bill that could potentially end up in a bipartisan tax package at the end of this year would push film and TV studios to bring their productions back to the U.S.via new tax incentives, with extra support if they choose to bring development to rural communities.TRUMP CALLS HOLLYWOOD A 'TOTAL DISASTER,' PUSHES FEDERAL TAX INCENTIVE FOR FILM AFTER MEETING WITH JON VOIGHTCongress is rallying around President Trump's call to get film and TV production back to the U.S.
(Getty Images/Photo illustration)"Since I was a child, I was moved and inspired by the stories of America's greatness, by living out the American dream, and by the notion that I could do and achieve anything in this world, if I set my mind to it, and most of that was driven by a whole lot of American-made movies," Rep.Nathaniel Moran, R-Texas, told Fox News Digital.
"I want this next generation to be inspired the same way, and I do not want American storytelling to go overseas, to be diluted by values from overseas."Moran's East Texas congressional district is largely rural and a far cry from the Sunset Strip that was home to much of America's filmmaking history.PELOSI, OMAR JOIN TRUMP AND SCHIFF AS UNLIKELY ALLIANCE PUSHES TO ONSHORE KEY INDUSTRYHe's one of the House lawmakers leading the Motion Picture, Television, and Entertainment Revitalization Act, a bill aimed at bringing film and TV jobs back to the U.S.by creating...