The Motion Picture Association, which represents seven major entertainment studios, congratulated Donald Trump on Wednesday on his victory in the presidential race.
In a statement, the Hollywood trade group also congratulated the incoming Congress, as Republicans took control of the Senate, and said it looks forward to working on issues affecting the industry.
“We look forward to working with them on a wide range of important issues for the film, TV, and streaming industry, which supports more than 2.7 million American jobs, boosts more than 240,000 businesses in cities and small towns across the country, and delivers over $242 billion in wages to our workforce each year,” the association said. “We commend everyone who worked this year to ensure fair elections and preserve our nation’s legitimate democratic processes.”
The statement was in contrast to the general reaction among Hollywood figures, which tended toward despair.
The MPA is hoping to extend provisions of Trump’s 2017 tax law, including the ability to immediately deduct the full cost of film and TV production, rather than spread it out over multiple tax years.
The association is also interested in other federal policy that would incentivize domestic film production, including a tax incentive akin to state-based programs. Rep. Adam Schiff, a Democrat who was elected to the Senate on Tuesday, called for such a tax incentive in a recent letter to the Bureau of Economic Analysis and the Bureau of Labor Statistics.
The entertainment industry is one of the major U.S. export industries, accounting for a $10.3 billion trade surplus in 2022. The MPA has warned that other countries — including the U.K., Canada, India and Australia — have enacted aggressive subsidies to build up their domestic film and TV industries, leading to renewed concern about “runaway production.”
Trump has not made any commitments in this area. Congress is expected to work on extending and adjusting provisions of Trump’s last tax measure next year, many of which were set to expire in 2026.
The MPA also lobbyies on issues like artificial intelligence, copyright, and combating online piracy.
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