Congress·In Committee·H.R. 4840

Congress Proposes Larger Tax Write-Off Limits for Film and TV Productions, Extending Break to 2030

CREATE Act

8 months ago·View on Congress.gov

⏸

Stalled

No legislative action in over 90 days.

Legislative Progress

House

Senate

President

Law

Key Points

Lets more film, TV, and similar productions write off more of their costs right away on their taxes, instead of spreading it out over time.
Raises the maximum production budget that can qualify for this faster write-off, doubling the main limit from $15 million to $30 million.
Raises a higher cap for certain productions from $20 million to $40 million.
Extends how long this tax break is available, moving the end date from December 31, 2025, to December 31, 2030.
After 2026, the dollar caps would increase over time with inflation, in $1,000 steps.

TaxesEconomySmall Business

Milestones

2 milestones2 actions

Aug 1, 2025House

Referred to the House Committee on Ways and Means.

Aug 1, 2025

Introduced in House

What Happens Next

Projected impacts based on AI analysis

Starting with many productions commencing in 2026 tax years

Higher expensing limits begin for productions that start in tax years ending after Dec. 31, 2025.

New qualifying projects starting in 2026 can generally deduct more production costs right away, which can improve cash flow during filming or rehearsals.

2030-12-31

The expanded expensing rules remain available through Dec. 31, 2030.

Producers and financiers can plan multi-year projects knowing the faster write-off is scheduled to last longer instead of ending in 2025.

Tax years beginning in 2027 and later

Automatic inflation adjustments raise the dollar caps for tax years beginning after 2026.

Over time, more productions may qualify for the full up-front deduction because the caps can rise with inflation instead of staying flat.