Congress Introduces Bipartisan Legislation Creating National Film Tax Credit
Lawmakers in both chambers of Congress introduced bipartisan legislation on Thursday to create a national film tax credit that would incentivize Hollywood productions to stay in the United States.
TL;DR
- Bipartisan legislation introduced in both chambers of Congress.
- The bill aims to create a national film tax credit.
- The goal is to incentivize Hollywood productions to stay in the U.S.
- Productions have been increasingly moving to foreign countries with competitive tax incentives.
- The legislation is called the Motion Picture, Television, and Entertainment Revitalization Act.