During a campaign rally in Florida, Donald Trump stated that the American film industry is undergoing a deep and, in his words, catastrophic crisis, which he directly linked to the economic and tax policies of the Democrats. According to the US President, Hollywood — a historical symbol of the country — has effectively "emptied out" as major film studios massively relocate production abroad.
"Hollywood is empty": moving shoots overseas
Trump pointed out that many major film studios have moved to Canada and other foreign countries, where, in his estimation, tax burdens and production costs are lower. The head of state stated that this dealt a severe financial blow to the economy of California and the country as a whole, depriving the region of jobs and investment activity.
From critics to supplicants: industry shift
Separately, the president emphasized the irony of the situation: representatives of the film industry who, according to him, criticized him for years are now turning to the White House for help amid the worsening crisis. "Hollywood emptied out because of foreign countries. The Democrats allowed this. People who spread filth about me for years are now sitting in my office asking for salvation," Trump is quoted as saying by the publication Zamin.uz.
Tax breaks as a tool for salvation
According to the president, industry representatives are now asking for tax breaks because, in his assessment, their industry is "dying" in the US. Trump stated that he will most likely grant such preferences. "They are now asking for tax breaks because their industry in this country is dying. And I will most likely grant them these preferences," he added.
Jon Voight as special representative for Hollywood
As part of working on mechanisms to bring the film industry back to the US, Trump announced that he had discussed tax relief with actor and Oscar winner Jon Voight and appointed him as his special representative for Hollywood affairs. Thus, according to White House statements, concrete steps to stimulate filming within the country are already being developed.
"Expenses will pay off 10 times": expectation of budgetary effect
The president expressed confidence that tax preferences will not become a burden on the federal budget. According to him, thanks to the creation of thousands of new jobs and economic revival, the costs, in his estimation, will return to the treasury tenfold. This initiative, as noted, could become an incentive for major megastudios to return to California, having grown accustomed in recent years to shooting films in Canada and Europe.
