Movie studios would be eligible for a long-sought perk under Gov. Gavin Newsom’s proposal to let them convert a portion of their state tax credits into cash payments, essentially creating a government subsidy for Hollywood that California doesn’t offer
to any other industry.
were designed to encourage the hiring of workers who reflect the race and gender makeup of the state.close a $22.5-billion budget deficit that could result in cuts “We have to tell the child-care people, ‘Hey, sorry, we couldn’t give you money for child care because we gave money to movie studios.’”The $3.1 million in contributions that Hastings has given Newsom marks a political reconciliation after supporting opponent Antonio Villaraigosa in 2018.
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