Just a day after Donald Trump revealed his plan to impose 100% tariffs on “any and all” films produced in “foreign lands,” California Gov. Gavin Newsom said he wants to collaborate with the President to create a $7.5 billion federal tax incentive to help the film industry, according to the New York Times.
Newsom’s plan, if ratified, would be the largest single government subsidy proposal in U.S. history and the only one at the federal level. Although there are tax incentives for film productions approved in more than three dozen states, there is currently no plan in place at the national level.
“America continues to be a film powerhouse, and California is all in to bring more production here,” Newsom said in a statement Monday. “Building on our successful state program, we’re eager to partner with the Trump administration to further strengthen domestic production and Make America Film Again.”
More to come…
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