Episode Details

Hollywood’s top players are sounding the alarm as a new state budget bill threatens to cap corporate tax credits at just $5 million annually — a move that could cripple California’s film and TV industry. After last year’s $750 million investment in the tax credit program, studios were counting on it to keep thousands of jobs in the state. Industry leaders like Bryan Lourd from CAA are demanding an exemption for entertainment credits, warning that without it, California risks losing its competitive edge. Over 30 lawmakers have joined the chorus, urging Governor Newsom to act, while unions warn production companies could lose already-earned credits — creating chaos for business planning. Lawmakers say they’re actively reviewing the issue and preparing new legislation to protect tens of thousands of jobs already returned to Southern California. With the legislative session winding down, time is running out to save this vital part of California’s economy.

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