Hollywood studios and unions have requested Congress to revive the battered leisure business with a legislative bundle together with hiring incentives, federal insurance coverage and enhanced expensing of manufacturing prices.
“These insurance policies would assist jumpstart home movie and tv manufacturing, encourage hiring and ameliorate the upper prices that have to be undertaken to guard our business’s workforce,” the letter mentioned.
The doc, despatched Monday to Congressional leaders, was signed by leaders of the Movement Image Affiliation, the Administrators Guild of America, the Impartial Movie & Tv Alliance, the Worldwide Alliance of Theatrical Stage Staff and SAG-AFTRA.
“We imagine a hiring incentive modeled on the worker retention credit score or the work alternative tax credit score (WOTC) will assist transfer employees off of unemployment and convey them again into the workforce,” the letter mentioned. “The worker retention credit score enacted as a part of the CARES Act and the longstanding WOTC present fashions that may be revised to perform this objective. For instance, after Hurricane Katrina, Congress quickly expanded WOTC eligible teams to incorporate a ‘Hurricane Katrina worker.’”
The missive famous that there’s solely a minimal quantity of manufacturing underway as a result of COVID-19 pandemic — partly as a result of lack of accessible insurance coverage.
“The power of our business to return to energetic manufacturing, whether or not on set or on location, is severely compromised by the lack to buy insurance coverage to cowl losses stemming from communicable illnesses amongst forged, crew and others concerned within the manufacturing,” the letter mentioned.
“This insurance coverage has been accessible prior to now and is important to the selections by banks and others to threat funding in a movie or program which may be shut down whereas a single member of the forged recovers from sickness or on account of civil authority order, unrelated to the precise manufacturing. With out it, manufacturing — particularly impartial manufacturing — can’t resume on a big stage. We urge Congress to develop a program of federal insurance coverage (or assure to fill this hole) to cowl pandemic-related enterprise losses sooner or later.”
The letter additionally requested for a revamp of the tax code to permit performing artists to deduct unreimbursed worker, which is at the moment relevant provided that they make $16,000 or much less a yr in earnings. “We ask Congress to move the Performing Artist Tax Parity Act (HR 3121), which is able to elevate the utmost earnings cap to $100,000 for particular person filers and $200,000 for joint filers.”