NY Lawmakers Boost Film Tax Credit to $800 Million in Budget (2)

The New York legislature approved a bill Thursday increasing the state’s annual film tax incentive package to $800 million.

The move comes as elected officials have expressed anxiety about the loss of Hollywood productions to other countries, prompting President Donald Trump’s recent threat of a 100% tariff on films made abroad. It’s unclear how such a tariff would be applied, though California Gov. Gavin Newsom (D) has instead called for the creation of $7.5 billion in federal tax credits to attract more productions to the US.

Meanwhile, states have long competed with each other to attract film and television ...