A tax break for Tinseltown

Raiders of the Lost Taxpayer

Excerpt:

National Journal reported this week that the Senate's economic stimulus bill includes a provision that would make Hollywood studios eligible for a special 50% write-off of equipment purchases. According to the report, "the provision is backed by firms like the Walt Disney Co., and the industry trade group the Motion Picture Association of America."

The House version of the stimulus already includes a bonus depreciation that lets businesses immediately write off 50% of their 2009 capital expenditures. But the Senate bill expands the definition of "qualifying property" -- specifically to include "certain motion picture film or videotape." Hollywood moguls like Steven Spielberg, David Geffen and George Lucas were among the biggest backers of President Obama's candidacy, and it looks as though Democrats have found a way to return the favor.

Comment: Change we can believe in?