Hollywood Executive Commends Trump on Proposed Tax Credit

LOS ANGELES — A prominent figure in Hollywood recently expressed commendation for President Donald Trump while discussing a proposed federal tax credit designed to revitalize American jobs in the entertainment sector.

Ted Sarandos, co-CEO of Netflix, addressed his relationship with Trump during an interview with Bloomberg News’ Lucas Shaw. This conversation arose as the streaming platform explored purchasing Warner Bros. Discovery, ultimately losing out to Paramount.

“Well… you know, regardless of everything else, he’s someone who truly cares about the entertainment industry,” Sarandos noted at the annual Bloomberg Screentime summit. “He’s invested in protecting this industry and creating jobs, especially in America.”

In August, Trump voiced support for federal tax incentives aimed at keeping film and television production stateside rather than outsourcing it. Over the years, places like the UK, Australia, and Canada have enticed significant Hollywood projects with tax breaks, sometimes making it cheaper to shoot abroad than on the lots of established studios.

The bill, which was introduced recently, enjoys bipartisan backing, co-sponsored by Sen. Tim Scott, R-S.C., and Sen. Adam Schiff, D-Calif.

When asked about his thoughts on the bill’s chances of becoming law, Sarandos displayed some doubt. “There are a couple of wild cards at play,” he said, referencing the upcoming midterm elections. “It’s a bipartisan effort, which is a positive factor. I believe in its value; it has a proven model where every dollar put in could yield six to nine dollars back, based on effective administration of the incentive.” He added, somewhat hesitantly, that the upcoming midterm results could complicate matters, influencing which party holds power and how they prioritize different initiatives.

Sarandos also pointed out that California’s liberal policies have, over time, allowed jobs to migrate out of the state. “I think California, for a long time, assumed that talent would always stay here. However, they let the industry infrastructure lag. It’s become quite challenging to shoot in Los Angeles,” he remarked.

He shared his recent experience collaborating with director David Fincher in Los Angeles, highlighting that despite multiple productions—over $400 million in spending—the incentives still fell short of being optimal.