Sen. Tim Scott Touts Federal Film Tax Credit as a Blue-Collar Jobs Bill
The South Carolina Republican is leading the legislative effort in the U.S. Senate alongside Sen. Adam Schiff (D-Calif.), while a parallel bipartisan coalition is pushing for the bill in the U.S. House of Representatives.
Touting his love for movies, Sen. Tim Scott (R-S.C.) said he decided to co-sponsor legislation to create a federal film and television tax credit because it would help boost U.S. blue-collar jobs and provide more diversity in how America is portrayed on screen.
Scott is leading the legislative effort in the U.S. Senate alongside Sen. Adam Schiff (D-Calif.), while a parallel bipartisan coalition is pushing for the bill in the U.S. House of Representatives. Scott said the goal is to get the bill passed during this Congress.
The bill, known as the Motion Picture, Television and Entertainment Revitalization Act, would establish a 20% tax credit on U.S. labor costs for film and TV projects that shoot 75% of their principal photography days in America and have a total production budget of more than $1 million.
The bill also provides bonus credits for independent productions, as well as projects that film in federally-declared disaster areas or rural qualified opportunity zones, which Scott said would include parts of South Carolina.
