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FOR IMMEDIATE RELEASE
June 3, 2009
Contact: Tracy Polovick
Coordinator of Communications and Outreach
(717) 787-8524
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Vance Issues Statement on Film Tax Credit

HARRISBURG – Sen. Pat Vance (R-Cumberland/York), sponsor of Senate Bill 262, issued the following statement regarding the release of a Legislative Budget and Finance Committee report on Pennsylvania’s Film Production Tax Credit:

"The most recent report on the film tax credit confirms that it results in a net fiscal loss to the Commonwealth.

"The reality is that we cannot afford to continue the film tax credit at a time when some legislators are considering tax increases, and nearly everyone recognizes that the economy is forcing consideration of painful budget cuts.

"I am confident that Pennsylvanians do not want their taxes raised to preserve a subsidy for the film industry.

"In addition, most Pennsylvanians prioritize funding for essential programs and services ahead of this subsidy. They are concerned about the financial future of their families and maintaining access to core government services."

Vance's district includes all of Cumberland County and Carroll, Fairview, Franklin, Monaghan, Warrington and Washington townships and Dillsburg, Franklintown and Wellsville boroughs in York County.

Additional Resources:

http://lbfc.legis.state.pa.us/reports/2009/35.PDF
http://www.philly.com/philly/wires/ap/news/nation/20090602_ap_statesgivehollywoodafortuneintaxbreaks.html
http://www.bos.frb.org/economic/neppc/memos/2009/weiner011609.pdf
http://www.bos.frb.org/economic/neppc/memos/2009/weiner040209.pdf