After years of failed attempts to pass legislation offering tax incentives to the film and television industry, more California lawmakers have joined efforts to help Hollywood. “This is a changed landscape because we made this an issue,” Los Angeles Mayor Eric Garcetti said.
Will the government put a tariff on movies that receive foreign subsidies?
Visual effects artists protested the tax incentive arms race in which countries and states offer subsidies to lure production away from Hollywood. “It’s a race to the bottom,” said organizer Daniel Lay.
Ken Ziffren said for California to stop runaway production, it will need to increase the tax incentives it gives to studios.
California has fought to stop runaway film and television production for more than four years now with a tax incentive program, but some say it’s not enough. The uphill battle to save California’s $17 billion-a-year industry.