A handful of senators introduced a piece of legislation Tuesday aimed at
keeping film and TV production within the United States.
The U.S. Independent Film and Television Production Incentive Act of 2001 is
looking to get tax relief for productions that stay home -- especially
low-budget films and episodic TV.
The Senate bill would provide a wage-tax credit for productions with total
wage costs between $200,000 and $10 million. The amount of the credit, in most
cases, would be 25 percent of the first $25,000 in qualified wages per
'Over the past decade, production of American film and TV projects has fled
our borders for foreign locations -- a migration that results in a massive loss
for the U.S. economy,' said Sen. Blanche Lambert Lincoln (D-Ark.), who
introduced the bill. It's co-sponsored by Sens. John Breaux (D-La.), Richard
Durbin (D-Ill.), Mary Landrieu (D-La.) and Olympia Snowe (R-Maine).
The most recent government survey said film and TV production generate more
than $50 billion per year for the U.S. economy.
The bill is backed by the large Hollywood guilds, including the Screen Actors
Guild, the Directors Guild of America and the Academy of Television Arts and