Los Angeles Mayor Eric Garcetti returned from a trip to Sacramento and announced that he expects somewhere around $400 in corporate welfare for Hollywood to be approved by the state legislature. Currently, Hollywood enjoys $100 in million corporate welfare.
Since taking office, the Mayor has been lobbying hard to increase this redistribution of wealth from the everyday working class to Tinseltown’s Top 1%.
“It will be close to $400 million or just north, right around there,” Garcetti said at Burbank Airport, where he had just arrived after a trip to Sacramento to lobby Gov. Jerry Brown and state legislative leaders on the need to pass legislation that greatly expands the existing program, which is currently at $100 million per year. He said that he expected the figure to be inserted into the legislation by Monday.
The bill, AB1839, has so far passed the state Assembly with unanimous support and making its way through the Senate, but so far with no figure attached. It would extend the existing program through 2022 and expand eligibility to include bigger budgeted feature films and most one hour-drama series, production categories that have been lost to other states in recent years. The legislation, authored by Assemblyman Raul Bocanegra and Assemblyman Mike Gatto, comes before the Senate Appropriations Committee on Thursday.
The Left believes that lower taxes only helps their friends in the entertainment business. Other than that, higher taxes are good for the economy, America, and Americans.
Follow John Nolte on Twitter @NolteNC
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