Gavin Newsom suggests tax credit for Hollywood after Trump proposes tariffs on foreign films
May 6 (UPI) -- California Gov. Gavin Newsom reached out to President Doanld Trump on Monday with hopes that the two can pair up and create a $7.5 billion federal film tax credit to help out the movie business.
"California built the film industry -- and we're ready to bring even more jobs home," Newsom wrote on X. "We've proven what strong state incentives can do. Now it's time for a real federal partnership to Make America Film Again."
If approved and put into effect, such a tax credit would be the largest subsidy deal ever provided by the federal government for the industry.
Over three dozen American states already offer similar incentives to TV and film productions, but unlike some other countries there isn't a stateside national program, and there isn't a single state offering that exceeds more than around $1 billion annually.
California, the physical home of Hollywood, currently offers $330 million every year.
The post from Newsom followed an announcement from Trump who said on Sunday that he would impose a 100% tariff "on any and all movies coming into our country that are produced in foreign lands."
He did not make it clear how such tariffs would be applied or how they could impact U.S. films shot overseas or involving any production completed outside the United States.
Trump was inspired after he met with actor Jon Voight and his manager Sunday. Voight took credit for the inspiration, as he explained in a video posted to social media Monday that "many Americans have lost jobs to productions that have gone overseas," and that after "meeting with many of the entertainment leaders, I have brought forward recommendations to the President for certain tax provisions that can help the industry."
Trump proclaimed Sunday that the American movie industry is "dying a very fast death" because other countries offer incentives to inspire American filmmakers and studios to work outside the United States.
"Hollywood and many other areas within the U.S.A., are being devastated. This is a concerted effort by other nations and, therefore, a national security threat. it is, in addition to everything else, messaging and propaganda," Trump said. which led him to announce he has authorized the Department of Commerce and the U.S. Trade Representative to put together the levy on foreign-born films.
In an unrelated press conference on Monday, Trump was asked about the proposed tariff, to which he called Newsom "a grossly incompetent man" who he purported to have allowed the film industry "to be taken away from Hollywood."
"I'm not looking to hurt the industry, I want to help the industry," Trump said.
He added he wanted to "meet with the industry" to make sure they're "happy" with the proposed tariffs, because "we're all about jobs."
"Although no final decisions on foreign film tariffs have been made, the administration is exploring all options to deliver on President Trump's directive to safeguard our country's national and economic security while Making Hollywood Great Again," White House Deputy Press Secretary Kush Desai said Monday about the tariffs.
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