Newsom proposes expanding California film and TV tax credit to at least $1 billion

Gov. Gavin Newsom is proposing a major expansion of California's Film and TV Tax Credit Program to at least $1 billion, per Variety and TMZ. The announcement came just before the 2026 midterm elections.

Timeline

1. 2 Nov, 16:00 UTCVariety reports Newsom's $1 billion credit proposal
2. 2 Nov, 16:00 UTCTMZ covers $1 billion Hollywood tax credit plan

Top sources

• Gavin Newsom Proposes Expanding California’s Movie and TV Tax Credit to at Least $1 BillionVariety
• Gavin Newsom Proposes $1 Billion Tax Credit Program For California's TV and Film IndustryTMZ