Lawmakers will hold what promises to be a heated and contentious hearing next week to discuss eliminating the film tax credit in favor of expanding the earned income tax credit — a move officials say would add more than $100 million to the state's economy every year.
"We can put more money in the hands of our working families and just by doing that we can create more jobs than the film tax credit delivers," said Paul McMorrow, a spokesman for the state Executive Office of Housing and Economic Development. "That's a really simple choice."
Gov. Charlie Baker's budget proposes doubling the state's earned income tax credit to 30 percent of the federal credit. To offset the cost of the tax break for families, Baker would phase out the $80 million film tax credit.
McMorrow said a Department of Revenue analysis conducted on behalf of the Baker administration found the proposal would add $125 million per year to the state's economy and create between 1,000 and 2,000 jobs every year. It would also increase disposable income by about $200 million — money that people would spend to boost the state's economy.
Still, the proposal has come under fire from the film industry, which says the credit is vital to Massachusetts jobs.
"There are thousands of people whose jobs have been created by the Massachusetts film tax credit," said a spokesman for the Massachusetts Production Coalition. "Several of them will be testifying at the hearing about how the strong and growing film industry in Massachusetts has changed their families' life. If the film tax credit goes away, their jobs will go away."
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