US Lawmakers Unveil 20% Federal Film Incentive Bill
Bipartisan bill proposes a 20% federal film incentive, potentially reaching 30% with bonuses, for productions starting after 2026.
A bipartisan group of U.S. lawmakers has introduced a bill that would establish a 20% federal film incentive, with bonuses that could push the effective rate to 30%. The credit would apply to qualifying film and TV productions beginning in taxable years after December 31, 2026.
Speaking at the Zurich Summit, WME Independent's Alex Walton called the move "hugely positive" and predicted it could be realized within three to four years. However, a start date for the proposed federal film tax credit has not been set.
Andrea Scarso cautioned that production prices and budgets could rise alongside increased tax credits. Sarah Schweitzman said a federalized U.S. tax incentive program would create more jobs and invigorate crews.
According to a Motion Picture Association study, a federal film tax credit could increase U.S. production spending by $125 billion and add more than 143,000 jobs by 2035. The bill was reported by Deadline.
Quick answers
What is the proposed federal film incentive?
A bipartisan bill for a 20% federal film incentive, which with bonuses could reach 30%.
When would the credit apply?
To qualifying film and TV productions beginning in taxable years after December 31, 2026.
What impact could it have?
A Motion Picture Association study claims it could increase U.S. production spending by $125 billion and add more than 143,000 jobs by 2035.