January 22, 2013 |
New York Gov. Andrew Cuomo wants a five-year sequel to the state's popular film and television tax credit program. As part of a budget unveiled Tuesday, Cuomo proposed extending New York's $420-million annual tax credit program five more years. The budget also proposes reducing restrictions on claiming the state's post-production portion of the credit and additional reporting to "document the effectiveness of the credit in creating jobs," according to a statement from the governor's office.
January 1, 2013 |
WASHINGTON - The House gave final approval Tuesday night to a bill to rescind tax increases for the vast majority of Americans, but only after a day of closed-door debate among Republicans, who were forced to allow a vote on a compromise many in their party disdained. The final tally, 257 to 167, included most of the chamber's Democrats and fewer than half of the Republican majority. The deal, largely negotiated by Vice President Joe Biden and Senate Republican Leader Mitch McConnell (R-Ky.)
January 1, 2013 |
WASHINGTON - The House voted Tuesday to roll back income tax increases on the vast majority of Americans, finalizing a deal on the so-called fiscal cliff after weeks of gridlock. The approval, in a session that stretched late into the New Year's holiday, came after hours of closed-door debate among Republicans, with conservatives threatening to derail a bill that had overwhelmingly passed the Senate in the early hours of the morning. The final tally, 257 to 167, included support from 172 of the chamber's Democrats and just 85 of the majority Republicans, far fewer than half.
December 31, 2012 |
WASHINGTON - As negotiators closed in on a tax-and-spending deal to avert the “fiscal cliff,” President Obama delivered a nationally televised plea Monday for a final push by Congress in the hours remaining before midnight Monday when taxes are set to increase. “They're close, but they're not there yet,” Obama said, referring to bipartisan talks led by Vice President Joe Biden and Senate Republican leader Mitch McConnell of Kentucky. The president added, “if there's one second left” before Congress has to act, “they will use that last second.” Among the issues left to be resolved, he said, confirming earlier news reports, is an agreement that would delay across-the-board spending cuts, which would otherwise go into effect on Wednesday.
December 26, 2012
Mitt Romney, who opposed government subsidies for clean power and thought all energy production technologies should compete equally in the free market, did not win the election. That's the good news. The bad news is that his backward policies are still popular among many congressional Republicans, posing a threat to a wind-energy tax credit that is creating jobs and helping to wean the country off fossil fuels. Unless it is extended, the tax credit will expire at the end of the year.
December 21, 2012 |
A group of California visual effects artists is mounting a long-shot campaign to dismantle foreign film tax credits, contending that they hurt U.S. workers and violate international trade agreements. More than 150 visual effects workers in the last two weeks have donated funds to challenge the legality of foreign film subsidies that have buffeted California's visual effects industry. "We're fighting for the industry we love," said Rachael Campbell, a visual effects artist and campaign donor.
December 12, 2012 |
The director watches a monitor as an actor rushes down a staircase into a basement wine cellar, searching among the racks of bottles for his childhood crush. The wine cellar is actually a plywood set on the ground floor of a converted Northridge warehouse, one of several newly constructed sets where the MTV series "Teen Wolf" recently began filming its third season after moving from Georgia. "Teen Wolf" is a rarity - a show that relocated to Los Angeles from elsewhere to take advantage of California's film and TV tax credit program since it took effect in 2009.
December 3, 2012 |
Movies and TV shows that received tax breaks in New York state supported 28,900 jobs and accounted for $6.9 billion in spending in 2011, according to a new study on the state's film incentive program. The study, conducted by the consulting firm HR&A Advisors, also found that the number of jobs in the state's film and television industry jumped by nearly 25% between 2008 and 2011, while private sector employment as a whole declined by 1.6%. The report credits New York's film incentive program, which allocates about $420 million annually to lure film and TV productions - about four times what rival California sets aside each year in film tax credits.
October 23, 2012 |
To hear business leaders and political candidates talk, proper industrial policy comprises only three elements: a fair tax system, a level playing field and "certainty. " So why is it that all three are about to be thrown out the window as a sop to oil, gas and nuclear interests determined to fillet the wind-power industry? The maneuvering in Washington is over a federal subsidy known as the production tax credit, which is worth 2.2 cents per kilowatt-hour to wind-energy producers.