Congress Wants to Bring Hollywood Home: The Bipartisan Film Tax Credit Bill, ExplainedThe Motion Picture, Television, and Entertainment Revitalization Act would create the first federal film tax credit in U.S. history — 20% on domestic labor, up to 30% for rural and independent shoots. Adam Schiff and Tim Scott lead the Senate push, and even Trump is on board. Here's what the bill actually does.2026-10-12