Countervailing Efforts in The United States
In recent years, some members of the United States Congress have attempted to counter the runaway production situation with counter-incentives.
The American Jobs Creation Act of 2004 contained provisions allows U.S. producers of films with budgets under $15 million ($20 million if shot in a low-income neighborhood) to immediately write off their costs in a single year (if 75% of their principal costs are incurred via shooting in the U.S.) It also allows producers to be taxed at a capital gains rate of 15% (rather than at the higher 35% personal income tax rate). Previously producers had to amortize those costs over several years.
Local and state governments have also implemented counter-incentive programs in an effort to encourage domestic film productions to remain in the United States, and the federal government has attempted to rein in outsourcing with legislation to prevent what legislators describe as unfair foreign competition.
Read more about this topic: Runaway Production
Famous quotes containing the words united states, efforts, united and/or states:
“What makes the United States government, on the whole, more tolerable—I mean for us lucky white men—is the fact that there is so much less of government with us.... But in Canada you are reminded of the government every day. It parades itself before you. It is not content to be the servant, but will be the master; and every day it goes out to the Plains of Abraham or to the Champs de Mars and exhibits itself and toots.”
—Henry David Thoreau (1817–1862)
“There is a totalitarian regime inside every one of us. We are ruled by a ruthless politburo which sets ours norms and drives us from one five-year plan to another. The autonomous individual who has to justify his existence by his own efforts is in eternal bondage to himself.”
—Eric Hoffer (1902–1983)
“Ethnic life in the United States has become a sort of contest like baseball in which the blacks are always the Chicago Cubs.”
—Ishmael Reed (b. 1938)
“If the dignity as well as the prestige and influence of the United States are not to be wholly sacrificed, we must protect those who, in foreign ports, display the flag or wear the colors of this Government against insult, brutality, and death, inflicted in resentment of the acts of their Government, and not for any fault of their own.”
—Benjamin Harrison (1833–1901)