The story

The Motion Picture Association released a study Tuesday estimating that a federal film and TV production tax credit would create about 143,500 production jobs per year and generate $249.1 billion in total economic impact from 2027 to 2035. The report, prepared by Olsberg SPI, projects that U.S. film and TV production would double by 2032 with a 20% federal credit, with spending growing to $34.7 billion by 2032 compared to $16.9 billion without it. The study also estimates the incentive would create $125.3 billion in cumulative production activity from 2027 to 2035.

The MPA is working with Hollywood unions to campaign for the tax incentive. President Trump endorsed the idea last month in a Truth Social post, leading to renewed interest on Capitol Hill, where a bill is expected to be introduced by the end of this month. Actor Jon Voight, whom Trump named as one of his special ambassadors to Hollywood, joined MPA CEO Charles Rivkin and Democratic and Republican lawmakers at a virtual press conference Tuesday to promote the incentive. Reps. Laura Friedman (D-Calif.) and Brian Jack (R-Ga.) emphasized bipartisan support for the legislation.

The U.S. currently accounts for 34% of global film production and 42% of TV production, according to data provided to the MPA by ProdPro. The study assumes those figures will decline to 25% and 29% respectively by 2035 without a federal incentive, but would increase to 65% of global production spending with one. The report examined 20 films produced by MPA member companies and found a 20% credit would make 16 of them competitive to produce in the U.S. compared to a foreign location.