Spanish
Los Angeles.- The leaders of the main Hollywood unions sent a letter to the President of the United States, Donald Trump, to request an improvement in tax incentives in the production of film and television, avoiding mentioning the proposal of tariffs on foreign films.
"We appreciate and are grateful for the support you have provided to our industry. We also appreciate your understanding of the need to increase national film and television production to recover jobs in the U.S. and we are writing to request your support for the inclusion of three priorities of the film and television industry," the document indicated.
The letter was signed by a coalition of unions and guilds in the sector made up of almost 400,000 professionals, including the Writers Guild of America (WGA), the Directors Guild of America (DGA), the Independent Film & Television Alliance, the Producers Guild of America (PGA) and the Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA).
You can also read: Trump announces 100% tariffs on films
"Un incentivo a la producción nacional haría que el mercado estadounidense fuera más competitivo y permitiera retener y recuperar empleos bien remunerados vinculados a la producción cinematográfica y televisiva. El uso de esta deducción históricamente ha impulsado un importante crecimiento económico y laboral", precisó el escrito.
They also propose to extend it for another two years and increase the amount specified in Section 118, a provision that allows deducting up to 15 million dollars in qualified film and television production expenses in the year they are incurred.
"Since these limits were initially set in 2004, we are also requesting that the production expenditure limits be increased to $30 million (or up to $40 million if produced in low-income or economically-distressed areas)," they added.
Finally, they advocate for restoring the ability to carry back losses to more profitable years, as the U.S. tax system "allows companies to spread losses and gains over a period of years to obtain a stable and consistent calculation of the tax base."
The president announced on May 4th that he would impose 100% tariffs on foreign films, but the White House clarified the next day that there is still no firm decision and that work is underway to agree on a framework that complies with Trump's directives.
