Hollywood feeling more hopeful amid a push for film tax credits and Paramount staying put, filmmaker says

Now that Paramount is staying put in Los Angeles and state and federal lawmakers are pushing for expanded film tax credits, Hollywood insiders are seeing a glimmer of hope.

On Wednesday, California Gov.

Gavin Newsom highlighted the state’s latest efforts to bolster its entertainment industry, including a new post-production tax credit, an expanded film and television tax credit, and new protections for performers against the use of AI-generated content.

"California is the home of entertainment, full stop," Newsom said in a statement.

"We’re not just protecting that legacy; we’re investing in its future by expanding our film and television tax credit, launching a new post-production credit and standing up for performers in the age of AI." "We’re making sure independent filmmakers and the next generation of storytellers and creators have a real shot to build, hire and produce right here in California," he said.

"More productions, more good jobs, more California stories told by California workers." CALIFORNIA LAW PUTS DIGITAL FINGERPRINTS ON AI FAKES Meanwhile, at the federal level, a bipartisan coalition of lawmakers is working on a tax credit for film and television productions.

The bill is expected to be introduced in Congress in early November, with its backers aiming to secure passage by Dec.

11, before the current Congress concludes its work.

If passed, the credit would take effect in 2027 and could be used alongside state production incentives .

Championed by President Donald Trump, the legislation has also received support from one of his most formidable political opponents, Sen.

Adam Schiff, D-Calif.

Schiff led the first impeachment effort against Trump and has remained a vocal critic of his leadership.

"I am in strong agreement with the President," Schiff said on X.

"Congress should immediately take up and pass a federal film tax incentive to bring back these good-paying jobs that we've lost to other countries." NETFLIX CHIEF ADMITS TRUMP IS HELPING SHOWBIZ INDUSTRY AS FEDERAL TAX CREDIT BILL AIMS TO FUEL HOLLYWOOD JOBS Filmmaker Paul Kampf, a 30-year veteran of the entertainment industry, described California’s incentives as "a really good start." "No matter where you make your film, whether it's Georgia, Delaware, Puerto Rico , or Europe, if you can do your post-production in California, you're keeping jobs here, especially in independent films," Kampf told Fox News Digital.