The screeching over Jindal's decision not to veto a modest cap on film production tax credits is almost as bad as the garment rending over the drilling moratorium a few years ago.
The cap will last three years. During those three years a LOT of money ($180 million per year) will be spent on giveaways to movie productions. Then it will sunset and even more money will be spent on it. The movie industry isn't the big loser in that deal. The underfunded universities and hospitals still are.
1 comment:
Was tweeting about this with the Hollywood South twitter person last night; at the time, I didn't know the industry had enjoyed no cap at all on subsidies to this point. They seem to feel entitled to an open spigot. I can't fathom it, even if I agree that that industry does bring jobs, spending, investment to the state and city. How can anyone have a "no limit" budget item for anything? That's just insane.
Post a Comment