Trump says he is working with Schiff on federal film and TV production tax credit

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Summary

A bipartisan bill would create a 20 percent federal tax credit, rising to 30 percent with bonuses, for film and TV productions shot mostly in the United States.
The Motion Picture, Television, and Entertainment Revitalization Act was introduced in September 2026 by Senator Tim Scott and Representative Nathaniel Moran.
President Donald Trump says he is working with Senator Adam Schiff, Senator Tim Scott, and other bipartisan lawmakers to pass the legislation.
Backers blame foreign incentives for drawing production abroad: Los Angeles shoot days have fallen nearly 50 percent since 2019 and 57,000 jobs were lost.
The bill faces a tough path in the lame-duck session after Democrats' midterm victories, with six House co-sponsors defeated and only cursory year-end tax talks.
The Cato Institute estimates the credit could reduce federal revenue by $33 billion to $49 billion over a decade.

Trump wrote on Truth Social that he is working with Senator Tim Scott and 'believe it or not' Senator Adam Schiff, calling the effort a 'very Bipartisan undertaking.'
Schiff wrote on X that he and Trump agree it is time for Congress to pass a federal film tax incentive: 'Let's get this done!'
Representative Don Beyer said he is inclined to back the incentive but put the odds of any tax bill passing in the lame-duck session at 'pretty low.'
Representative Laura Friedman said she hopes the legislation can still move forward in the lame duck despite the election results.
A spokesperson for Representative Brian Fitzpatrick, who lost his reelection bid, said his support for the bill remains unequivocal.
Skydance chief legal officer Makan Delrahim urged swift passage, saying it would help reinvigorate the American film industry.

Donald Trump teams up with Adam Schiff to save Hollywoodnewsweek.com· 5h
Newsweek reports that President Donald Trump says he is working with Senator Adam Schiff — whom he once attacked as "shifty Schiff" during his 2019 impeachment, which Schiff led — and other bipartisan senators on the Motion Picture, Television, and Entertainment Revitalization Act, a bill offering a 20 percent federal tax credit, potentially 30 percent, for productions shot mostly in the U.S. The bill aims to counter foreign incentives blamed for Hollywood's decline, with LA shoot days down nearly 50 percent since 2019 and 57,000 jobs lost.
Hollywood’s tax credit push runs into a post-midterm wallpolitico.com· 31h
Politico reports that the bipartisan federal film and TV production tax credit, a 20 percent credit on US labor costs introduced in September 2026 by Senator Tim Scott and Representative Nathaniel Moran with Donald Trump's support, faces a tough path in the lame-duck session after Democrats' midterm victories. Six House co-sponsors lost their reelection bids, the Cato Institute estimates a cost of $33 billion to $49 billion over a decade, and Representative Don Beyer puts the odds of any tax bill passing at "pretty low."

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