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:
“The white American man makes the white American woman maybe not superfluous but just a little kind of decoration. Not really important to turning around the wheels of the state. Well the black American woman has never been able to feel that way. No black American man at any time in our history in the United States has been able to feel that he didn’t need that black woman right against him, shoulder to shoulder—in that cotton field, on the auction block, in the ghetto, wherever.”
—Maya Angelou (b. 1928)
“Fanny was not there! How she would have enjoyed the scene.... I could not but think of her, and in spite of my efforts to prevent, the unbidden tear would flow. Alas! I cannot feel the satisfaction some appear to do in the reflection that her eyes beheld the scene from the other world.”
—Rutherford Birchard Hayes (1822–1893)
“Places where he might live and die and never hear of the United States, which make such a noise in the world,—never hear of America, so called from the name of a European gentleman.”
—Henry David Thoreau (1817–1862)
“The city of Washington is in some respects self-contained, and it is easy there to forget what the rest of the United States is thinking about. I count it a fortunate circumstance that almost all the windows of the White House and its offices open upon unoccupied spaces that stretch to the banks of the Potomac ... and that as I sit there I can constantly forget Washington and remember the United States.”
—Woodrow Wilson (1856–1924)