"INSULTING and OUTRAGEOUS" BOND HELPS KILL TAX BREAK IN STIMULUS
U.S. Senator Kit Bond was one of 52 Senators who voted to remove a $250 million dollar tax break for Hollywood movie producers from the gigantic $800 Billion dollar stimulus package.
"It's insulting to struggling families in Missouri and across the nation that the Democrats would try to sneak in an almost $250 million tax break for Hollywood movie producers in their so-called stimulus bill," said Bond. "Calling a tax break for Hollywood movie producers ‘emergency stimulus spending' is outrageous."
The provision would allow large Hollywood studios the opportunity to choose between the existing tax break for movie studios, or to write off 50 percent of the entire production costs for movies and TV shows made in 2009.
The vote to strike the special tax break passed 52-45.
"It's insulting to struggling families in Missouri and across the nation that the Democrats would try to sneak in an almost $250 million tax break for Hollywood movie producers in their so-called stimulus bill," said Bond. "Calling a tax break for Hollywood movie producers ‘emergency stimulus spending' is outrageous."
The provision would allow large Hollywood studios the opportunity to choose between the existing tax break for movie studios, or to write off 50 percent of the entire production costs for movies and TV shows made in 2009.
The vote to strike the special tax break passed 52-45.
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