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“Thus, as Congress considers additional legislation to address the serious challenges to our nation’s public health and to help restore our economy, our organizations respectfully request that you adopt the following tax-related and other priorities,” the letter proclaims in what is essentially a shot across the legislative bow as COVID-19 cases surge around the nation and in the home of Hollywood itself.
“These policies would help jumpstart domestic film and television production, encourage hiring, and ameliorate the higher costs that must be undertaken to protect our industry’s workforce,” the studio and Netflix-back lobby group and the muscular guilds add of a Hollywood that saw all production come to a halt in mid-March as state, regional and local governments imposed stay-at-home measures to gain some control over the spread of the potentially fatal virus.
Specifically, the MPA and gang today want tax credited hiring incentives, more write offs for expected to balloon production costs and more tax relief for performers’ work related expenses. “We ask Congress to pass the Performing Artist Tax Parity Act, which will raise the maximum income cap to $100,000 for individual filers and $200,000 for joint filers,” the letter asserts in an update from the current decades old exception scheme.
“Without it, production – especially independent production – cannot resume on a significant level,” Hollywood’s ask bluntly states in what has been a case of hot potato for both parties in this year of election and much needed corporate donations.
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Source: L.A. Times Health - 🏆 364. / 59 Read more »