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Hollywood agencies back U.S. film tax credit as first step
Variety reported that the American Entertainment Alliance, including CAA, WME and UTA, said Thursday it supports a proposed U.S. film and TV tax incentive as an urgent first step, while seeking later ownership rules.
- New headline Was: “Agencies and Producers Back U.S. Tax Incentive as ‘First Step’ Toward Hollywood Recovery”
- Our desk filed its story
A coalition of Hollywood talent agencies and independent producers said Thursday that it supports a proposed U.S. tax incentive for film and television production as a first step, Variety reported on Oct. 22, 20261.
The American Entertainment Alliance includes Creative Artists Agency, WME and United Talent Agency, along with independent producers such as Blumhouse, Imagine Entertainment and MRC, Variety said1.
The group said it is in strong support of the tax measure while it will press for changes it considers more favorable to independents1. Variety quoted the AEA as calling the legislation "an urgent first step toward bringing production jobs home"1.
The alliance has also pushed to revive financial-interest and syndication-style rules and to require streaming services to buy a large share of original programming from independent companies1. Variety said those ideas were not included in the federal tax-credit bill introduced in Congress in September, and that advocates of the 20% domestic production incentive hope it will pass by the end of the year1.
In its statement, the coalition said a tax credit alone will not restore a competitive U.S. marketplace and that it will work with lawmakers in the 120th Congress on production incentives and a modern approach to creative ownership in the streaming era1.
Variety said the federal incentive proposal includes a 5% bonus for independent productions, and that in the current bill language an independent producer is defined as any company that is not publicly traded1.
Whether Congress adopts the incentive, any independent-producer tweaks, or later ownership rules remains unconfirmed beyond Variety's account of the AEA statement1.
