States Weigh Cuts in Hollywood Subsidies

[alp227]

Source: The New York Times

LOS ANGELES — Preparing to deliver his first State of the State address last week, Gov. Chris Christie of New Jersey was looking at a $10.5 billion budget gap, a collapsing pension fund and a probable cut in Medicaid spending.

He was also being asked to put money aside for Hollywood.

Government subsidies for film and television productions proliferated in flush times as more than 40 states competed for entertainment work. Those subsidies face an uncertain future as new governors and lawmakers, many of them fiscal conservatives, join incumbents like Mr. Christie in trying to balance budgets without losing jobs.

Tax credits for Hollywood were recently expanded in Florida and North Carolina but are under fresh scrutiny in states like Pennsylvania, Michigan and New Mexico, all of which have new Republican governors reviewing film subsidy programs that were begun under Democratic predecessors.

Read more: http://www.nytimes.com/2011/01/20/business/media/20incentives.html?_r=1&partner=rss&emc=rss&pagewanted=all

[ShockediSay]

1. The more we cut back on spending on employees, the worse the Great Recession will get

Time to reinstitute Nixon's Revenue Sharing plan

[hughee99]

2. Is this really a situation where repukes are talking about repealing tax breaks

for wealthy corporations that were implemented under Democratic predecessors? You don't see that every day.