State’s Film Tax Credits Aren’t a Good Deal for Residents
(Wall Street Journal) — States issuing tax credits to lure filmmakers are foregoing spending on public safety and community services in favor of pursuing entertainment-related job creation that isn’t materializing, according to a report released Wednesday. The report from the liberal-leaning research group the Center on Budget and Policy Priorities suggested state governments are being blinded by Hollywood at the expense of their own residents. “For all their generosity, film tax credits have not enabled these states to create new, stable jobs for their residents,” said Robert Tannenwald, the study’s author and a former economist at the Federal Reserve Bank of Boston.
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