• Terms and conditions
  • Privacy Policy
Tuesday, September 1, 2026
Informed American Today
No Result
View All Result
  • Politics
  • Business
  • Economy
  • Stock Market
  • Editor’s Choice
  • Politics
  • Business
  • Economy
  • Stock Market
  • Editor’s Choice
No Result
View All Result
Morning News
No Result
View All Result
Home Business

Trump calls for federal tax incentives to benefit TV and movie industry

informedamericantoday by informedamericantoday
September 1, 2026
in Business
0
Trump calls for federal tax incentives to benefit TV and movie industry

President Donald Trump on Monday called for bipartisan tax incentives to help a domestic TV and movie industry that has seen large chunks of its business move overseas in recent years.

Trump wrote on Truth Social that meetings were “being set up with the Leaders of both Parties in order to get this done.”

READ ALSO

Days after Trump announces Venezuela oil deal, White House fills in some of the details

Panda Express CEOs say their ‘mission’ is to help employees realize the American dream of homeownership

“It should be Bipartisan, especially since so much money is being lost in California, and other largely Blue States,” he wrote. “I am going to suggest that Republicans and Democrats get together, and immediately craft Legislation to save the Movie, Television, and Entertainment Business in America.”

Trump indicated that his call to help Hollywood — an industry that Republicans often rail against and one that resides in solidly blue California — was influenced in part by actor Jon Voight, who was a 2024 campaign surrogate for him.

Voight, whom Trump has called his “Hollywood ambassador,” has helped shape Trump’s policy toward the entertainment industry during his second term. In May 2025, Trump met with Voight before he proposed tariffs on films produced overseas.

Voight did not immediately respond to a request for comment Monday night.

President Donald Trump in the Oval Office of the White House on Monday.Annabelle Gordon / Bloomberg via Getty Images

Trump’s Truth Social post drew immediate support from Democrats who are usually critical of him and his administration’s policies.

Sen. Adam Schiff, D-Calif., a frequent Trump target, said he was in “strong agreement” with Trump on this one.

“Congress should immediately take up and pass a federal film tax incentive to bring back these good-paying jobs that we’ve lost to other countries,” Schiff wrote on X. “Let’s work together — Republicans and Democrats — to get this done, and bring the movie magic back to America.”

Rep. Laura Friedman, D-Calif., praised the proposed measure and called for swift passage.

“For more than a year I’ve been sitting down with Jon Voight, Congressional colleagues, the unions, studios, and producers to build the case for a national film and television tax credit,” Friedman said in a statement. “There’s no reason Canada, the UK, or Australia should be taking our jobs. We still have the best crews on the planet. It’s time we made it possible for them to stay where they belong: in America.”

Friedman said last September that the proposed tariffs on foreign films were recognition from Trump that the U.S. was losing its domestic film and TV industry but that the path forward was a tax credit, not tariffs.

Trump’s announcement Monday was also embraced by the industry itself.

Charles Rivkin, the CEO of the Motion Picture Association, the trade group representing major film studios in the U.S., said in a statement that the group applauded Trump’s support for tax incentives.

“For over a century, American studios, casts, and crews have produced the films and series that the world wants to see. A federal incentive would be a landmark step toward bringing more production to local communities in all 50 states, strengthening our nation’s economy, and making our country a more competitive place to produce, create, and tell great stories,” Rivkin said in his statement.

While Trump did not lay out any financial details in his post, he predicted that the money spent on the tax incentives “will be made up tenfold by the money pouring into the Treasury’s coffers.”

This post appeared first on https://www.nbcnews.com

Related Posts

Days after Trump announces Venezuela oil deal, White House fills in some of the details
Business

Days after Trump announces Venezuela oil deal, White House fills in some of the details

September 1, 2026
Panda Express CEOs say their ‘mission’ is to help employees realize the American dream of homeownership
Business

Panda Express CEOs say their ‘mission’ is to help employees realize the American dream of homeownership

August 27, 2026
GOP lawmakers criticize Trump’s beef import plan amid blowback from ranchers
Business

GOP lawmakers criticize Trump’s beef import plan amid blowback from ranchers

August 25, 2026
SpaceX hit by surging AI costs as insiders prepare to sell their shares
Business

SpaceX hit by surging AI costs as insiders prepare to sell their shares

August 6, 2026
New York sues Kalshi, says its prediction markets are illegal gambling
Business

New York sues Kalshi, says its prediction markets are illegal gambling

August 3, 2026
CBS’ ‘60 Minutes’ announces new slate of correspondents for upcoming 59th season
Business

CBS’ ‘60 Minutes’ announces new slate of correspondents for upcoming 59th season

July 30, 2026
Next Post
Days after Trump announces Venezuela oil deal, White House fills in some of the details

Days after Trump announces Venezuela oil deal, White House fills in some of the details

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Disclaimer: InformedAmericanToday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Categories

    • Business
    • Economy
    • Editor's Pick
    • Politics
    • Stock Market

    Recent Posts

    • Binance Adds Physically Settled Options on More Than 1,000…
    • Oracle (ORCL) Slides Below $144 as Tech Sells Off and the…
    • SpaceX’s Next Share Unlock Lands September 9, With…
    • North Korea Hackers Route $30 Million Through Hyperliquid
    • Terms and conditions
    • Privacy Policy

    Copyright © 2026 informedamericantoday.com | All Rights Reserved

    No Result
    View All Result
    • Politics
    • Business
    • Economy
    • Stock Market
    • Editor’s Choice

    Copyright © 2026 informedamericantoday.com | All Rights Reserved

    No Result
    View All Result
    • Politics
    • Business
    • Economy
    • Stock Market
    • Editor’s Choice

    Copyright © 2026 informedamericantoday.com | All Rights Reserved