At the start of his term in January 2025, Donald Trump appointed three veteran Hollywood actors as his “eye and ears” in the country’s billion-dollar movie industry. Four months later the United States President announced 100 per cent tariffs on films made outside the country.
According to media reports by Bloomberg and Reuters, 86-year-old Jon Voight presented his plan at Mar-a-Lago last weekend. Later on Sunday (May 4) evening, Donald Trump’s social media post shook the movie industry and crashed entertainment stocks.
Oscar winning actor Jon Voight, more popularly identified as Angelina Jolie’s father; Rocky star Sylvester Stallone, and Braveheart superstar Mel Gibson were roped in as special ambassadors to to bring Hollywood back “bigger, better and stronger than ever before”. On Truth Social, Donald Trump declared he would “get done” what the three suggest.
Jon Voight’s ‘Hollywood Revival’ Plan — Details
The detailed plan seeking to increase entertainment industry jobs in the US, was presented at Donald Trump’s Florida residence by Jon Voight, his manager Steven Paul, and Scott Karol, President of SP Media Group (Paul’s company).
What does the plan propose? According to Karol, changes to the tax code to encourage investment in US films and job training initiatives, Bloomberg reported. In an interview, Karol shared details, “Filmmakers who co-produce pictures with foreign companies would be allowed to obtain credits for their US spending. Bad actors who take all of their production overseas, would face a tariff that equated with the incentives they were getting from foreign countries.”
As per a Reuters report, the proposal also includes accelerating the timetable for writing off the cost of production under Section 181 of the US. Expansion of California’s Film and Television Tax Credit program, to more than double tax incentives from $330 million to $750 million, and broadening the scope of projects eligible for the program.
Who would likely benefit? Theatre chains, beaten down and struggling since the COVID-19 pandemic, would be the biggest likely benefactors if incentives are approved, the BB report added. These include AMC Entertainment Holdings Inc., Cinemark Holdings Inc. and Marcus Corporation.
‘Trump will help us make Hollywood great again’: Jon Voight
In a statement, Jon Voight said: “The president loves the entertainment business and this country, and he will help us make Hollywood great again.”
In April, Jon Voight had told Reuters he was preparing to outline his plans to restore the Hollywood’s “Golden Age”.
“Our hearts are broken. We see what has happened to this industry that has drawn us out here to California. Our job is to create jobs. To bring jobs back. Many of my fellow actors — they’re really hurting, and their friends are hurting. Every meeting we have, every interview, every interaction we have, I’m carrying those people in my heart,” he told the agency.
Speaking to reporters on May 5, Donald Trump assured that a final decision would come after consultation with industry executives. “We’re going to meet with the industry. I want to make sure they’re happy with it, because we’re all about jobs,” he said.
California in Focus: Governor calls for $7.5 billion aid
California Governor Gavin Newsom in his statement on May 5 called for federal tax credits of at least $7.5 billion and a partnership with the Trump administration to affectively bring more filmmaking jobs to the US. California is home to Hollywood (Los Angeles).
“America continues to be a film powerhouse, and California is all in to bring more production here. We’re eager to partner with the Trump administration to further strengthen domestic production and Make America Film Again,” Newsom said.
Meanwhile state Senator Ben Allen said he would support a tariff, if it did not harm foreign films. “I understand why the president was moved to want to take some drastic action. We’ve been facing so much damage as a result of other jurisdictions throwing all sorts of incentives at productions to pull movie production that really ought to be happening here in the United States and that ought to be happing in LA,” he added.
(With inputs from Agencies)
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