California has a $68 billion deficit, and Gov. Newsom is proposing $375 million in budget cuts for the California State University system, $68 million in cuts for wildfire prevention (even as LA is recovering from the worst fires in history) and doubling Hollywood’s tax credits to $750 million
Hollywood, which already benefits from $350 million in breaks, will get $750 million in tax credits even as money is being cut from education, public safety and even wildfire prevention.
The entertainment industry would be able to recoup up to 35% of their spending, up from the current 20%, and the subsidies would cover everything from sitcoms to reality shows.
Gov. Newsom is bribing Hollywood with $750 million in taxpayer money in the hopes that they’ll pay at least 10% of that forward to his 2028 presidential campaign.