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Topline California Gov. Gavin Newsom on Monday proposed collaborating with President Donald Trump and his administration on a $7.5 billion federal incentive to help domestic movie production, a day after Trump announced plans to impose a 100% tariff on films produced outside the U.S. California Governor Gavin Newsom proposed a $7.5 billion federal tax incentive to help support the … More entertainment industry. Variety via Getty Images Key Facts In a statement shared with various news outlets, Newsom said America was a film powerhouse and California was “all in to bring more production here.” The governor said he is “eager to partner with the Trump administration to further strengthen domestic production and Make America Film Again.” Newsom said he wants to work with the Trump administration to craft a $7.5 billion federal film tax credit scheme to help support the entertainment industry. The comments were echoed in an X post late Monday night, where Newsom wrote California has “proven what strong state incentives can do” and it was now time for a “real federal partnership” as he tagged the President’s official X account and added: “let’s get it done.” Get Forbes Breaking News Text Alerts: We’re launching text message alerts so you’ll always know the biggest stories shaping the day’s headlines. Text “Alerts” to (201) 335-0739 or sign up here. How Would The Proposed Film Tax Credit Work? According to the Hollywood Reporter, Newsom’s proposal would likely be modeled around California’s proposed $750 million a year state-level tax credit program. The state proposal, which is moving through the state’s legislature, will supersede an existing $330 million a year state tax credit for films. When Newsom announced the expanded state credit proposal last year, he suggested former Vice President Kamala Harris would back a larger federal incentive if she were elected…

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Filed under: News - @ May 6, 2025 7:25 am