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California Gov. Gavin Newsom set to announce $750 million film and TV tax credit

California Gov. Gavin Newsom set to announce $750 million film and TV tax credit

CBS News02-07-2025
California Gov. Gavin Newsom is set to announce a $750 million film and TV tax credit that will help boost one of the state's hallmark industries, Los Angeles' local economy and thousands of industry jobs, his office says.
At a news conference Wednesday morning, Newsom will share details about the tax credit that was approved by state lawmakers. Newsom introduced a proposal to double the annual amount allocated to the industry last year, hoping to help Hollywood's struggling production.
Mayor Karen Bass is also expected to be in attendance at the event.
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