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:
“America—rather, the United States—seems to me to be the Jew among the nations. It is resourceful, adaptable, maligned, envied, feared, imposed upon. It is warm-hearted, overfriendly; quick-witted, lavish, colorful; given to extravagant speech and gestures; its people are travelers and wanderers by nature, moving, shifting, restless; swarming in Fords, in ocean liners; craving entertainment; volatile. The schnuckle among the nations of the world.”
—Edna Ferber (1887–1968)
“With all the efforts made by modern society to nurture and educate the young, how stupid it is to permit the mothers of young children to spend themselves in the coarser work of the world!”
—Jane Addams (1860–1935)
“Printer, philosopher, scientist, author and patriot, impeccable husband and citizen, why isn’t he an archetype? Pioneers, Oh Pioneers! Benjamin was one of the greatest pioneers of the United States. Yet we just can’t do with him. What’s wrong with him then? Or what’s wrong with us?”
—D.H. (David Herbert)
“A little group of wilful men reflecting no opinion but their own have rendered the great Government of the United States helpless and contemptible.”
—Woodrow Wilson (1856–1924)