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Senate To Hollywood: Buzz Off

February 4. 2009

Republicans in the U.S. Senate moved to block $250,000,000 in stimulus money from going to Hollywood (LOL). They argued Hollywood doesn't need the money. Under the circumstances, I agree.

Congress Says No To Hollywood $250 Stimulus

No Federal Stimulus Millions For H'wood

The Senate today stripped that $246 million provision that would have allowed the movie industry to take accelerated "bonus depreciation" on 50% of its equipment costs in 2009. The MPAA had lobbied for filmmakers to be included in the stimulus package now costing near $900 billion.

Senate Republicans led the move against the tax break for Hollywood during this recession, arguing that movie employers already get a write-off of up to $15 million for shooting in the United States...

http://www.deadlinehollywooddaily.com

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