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Trump urges bipartisan federal tax incentive to bring film, TV production back to US
Shamel Studio co-founder and CEO Feras Alfuqaha told Fox News Digital how his company’s artificial intelligence tool aims to dramatically cut the time and cost of scheduling and budgeting during film pre-production.
President Donald Trump is calling on Congress to approve a federal tax incentive aimed at bringing film and television production and entertainment jobs back to the United States, drawing support from both a major Hollywood trade group and Democratic California Sen. Adam Schiff.
Trump announced the push Monday after meeting with actor Jon Voight, one of his Hollywood ambassadors, saying Voight and others in the entertainment industry have urged the administration to support federal incentives for domestic production.
“I am going to suggest that Republicans and Democrats get together, and immediately craft Legislation to save the Movie, Television, and Entertainment Business in America,” Trump wrote on Truth Social, adding: “Congress should approve, immediately, a Federal Production Incentive to create Entertainment Jobs in America.”
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President Donald Trump announced what he called the “biggest oil deal in world history” between the United States and Venezuela, saying the agreement would increase U.S. oil supplies and lower gas prices. (Al Drago/The Washington Post/Bloomberg via Getty Images / Getty Images)
Trump said U.S. film and television work has increasingly moved to Canada and other countries and that meetings are being arranged with leaders of both parties in an effort to advance legislation.
The president did not specify the size or structure of the incentive he wants Congress to enact. However, a proposal backed by Voight allies would provide a 20% federal tax credit for U.S. labor costs on qualifying film and television productions.
SP Media Group CEO Steven Paul, a producer and Voight’s agent, and SP Media President Scott Karol have proposed the 20% credit, according to Reuters.
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Voight is working with a coalition that includes the Motion Picture Association, Directors Guild of America and unions representing actors, writers and other entertainment workers as the industry seeks to stem the movement of production overseas, Reuters reported.
Trump’s Monday post did not say whether he supports that specific 20% proposal.
Schiff quickly backed Trump’s broader call, marking a rare area of agreement between the longtime political adversaries.
“I am in strong agreement with the President. Congress should immediately take up and pass a federal film tax incentive to bring back these good-paying jobs that we’ve lost to other countries,” Schiff wrote on X. “Let’s work together — Republicans and Democrats — to get this done, and bring the movie magic back to America.”
Rep. Adam Schiff, D-Calif., speaks to supporters outside the International Alliance of Theatrical Stage Employees Union Hall on Feb. 11, 2023 in Burbank, California. (Mario Tama/Getty Images / Getty Images)
The Motion Picture Association, whose members include Netflix, Paramount Pictures, Sony Pictures, Universal Studios, The Walt Disney Studios, Prime Video, Amazon MGM Studios and Warner Bros. Discovery, also welcomed Trump’s announcement.
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“A federal incentive would be a landmark step toward bringing more production to local communities in all 50 states, strengthening our nation’s economy, and making our country a more competitive place to produce, create, and tell great stories,” MPA Chairman and CEO Charles Rivkin said.
The Hollywood Sign is pictured during a ceremony marking the 100th anniversary of the first time it was lit, in Los Angeles, California, on December 8, 2023. (DAVID SWANSON/AFP via Getty Images / Getty Images)
Rivkin said the group looks forward to working with the White House and bipartisan leaders in Congress to enact a national production incentive.
Voight has previously advocated for a federal tax credit designed to bolster U.S. film and television production.
Trump said he believes the economic activity generated by a federal incentive would more than offset its cost to the government, although he did not provide an analysis supporting that projection.
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“What we watch on the Silver Screen should be made in what was once the Movie and Motion Picture Capital of the World,” Trump wrote. “Let’s get this done!”
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NYC Mayor Zohran Mamdani states he’s not interested in a ‘back and forth’ with Benjamin Netanyahu, claiming one of his top priorities is keeping Jewish New Yorkers safe.
Bank of America Vice President Erin Piacenti was killed during a high-profile stabbing in New York City’s Times Square on Monday.
The New York City Police Department (NYPD) identified Erin Piacenti, 32, of Chester, New Jersey, as the deceased victim.
Bank of America acknowledged Piacenti’s death in an email obtained by Reuters.
“We are shocked and deeply saddened by the tragic loss of our colleague. She was a valued teammate who will be greatly missed. Our hearts go out to her family and all of her loved ones,” the bank wrote in the email.
After receiving a 911 call shortly before 4:30 p.m. on Monday, NYPD officers found a 49-year-old woman wielding two knives in Times Square.
Officers shot the assailant, who was later pronounced dead at the hospital.
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Medtronic (MDT) stock popped Tuesday as its diabetes spinoff Minimed (MMED) rallied, reversing premarket losses, after both lifted their full-year guidance. Medtronic posted organic sales growth of 13.7%, roughly 200 basis points above the midpoint of its guidance, Evercore ISI analyst Vijay Kumar said in a report. Importantly, cardiovascular and medical-surgical sales all topped forecasts, but neuroscience coming in line.…
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Dyson is expanding into oral care with a $499 smart toothbrush that uses a built-in camera and targeted liquid jet to clean between teeth.
The CameraJet, which launches on Tuesday, uses a 100,000-pixel macro camera and artificial intelligence to identify gaps between teeth and automatically directs mouthrinse toward them.
The $499 device marks Dyson’s latest expansion beyond the vacuum cleaners and hair care products for which the company is best known, adding another high-priced consumer product to its lineup.
Dyson says the camera can analyze 28 images per second. Its software can trigger the jet within 100 milliseconds of detecting a gap.
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The $499 device marks Dyson’s latest expansion beyond the vacuum cleaners and hair-care products. (Dyson)
The CameraJet uses a conical liquid jet rather than the narrow stream found on traditional water flossers. Dyson says the system is designed to remove plaque between teeth while operating at lower pressure.
A 12.5-milliliter reservoir holds mouthrinse, while an included dock can refill the tank in about three seconds, according to the company.
Users can connect the device to the MyDyson app for live camera viewing. (Dyson)
Users can connect the device to the MyDyson app for live camera viewing, cleaning guidance, coverage maps and feedback on brushing technique.
Dyson says images are not stored or shared and that processing takes place on the device.
The company also says laboratory testing found the CameraJet removed nearly 70% more plaque in hard-to-reach areas than premium electric toothbrushes under certain test conditions. Dyson conducted the testing using proxy plaque developed through research with the National University of Singapore.
Dyson says images are not stored or shared and that processing takes place on the device. (Dyson)
Dyson is also developing low-foaming mouthrinse and SLS-free toothpaste for use with the device.
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The CameraJet is available through Dyson’s website and Dyson Demo Stores.
Robinhood swung higher early Tuesday after Morgan Stanley upgraded shares on the mobile broker’s growth outlook. HOOD stock rose in August, taking back the ground lost after the company posted record trading volumes in its Q2 beat in July. The gain moved shares up the right side of a base, and toward a buy point. Morgan Stanley on Tuesday upgraded…
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