NASCAR, film industry part of fiscal cliff deal - | WBTV Charlotte

NASCAR, film industry part of fiscal cliff deal


Love it or hate it, you can't deny NASCAR brings big bucks to our state, which is why workers at Phoenix International Raceway give a big thumbs up to the racetrack section of the fiscal cliff bill.  It's the so-called NASCAR loophole that gives a tax break for any new racetracks built or any improvements made at current facilities, like PIR.

"This is about jobs. It's about people and that's really what we want to do is just bring it home where it's supposed to be," said Arizona Film and Media Coalition President Mike Kucharo.

Kucharo is talking about another bullet point in the bill, the one that gives a tax break to anyone who shoots more than three-fourths of their movie or TV show in the United States.

"Oh it's critical. I mean, this is one of the industries that brings millions and millions of dollars into the state every year," Kucharo said.

Movies like Everything Must Go with Will Ferrell and The Kingdom with Jamie Foxx and Jennifer Garner were shot in Arizona.  Kucharo said incentives like the one in the fiscal cliff legislation will keep production crews looking stateside for their big budget projects.

"Even as contentious as the Congress has been over most things, they just passed something that extends motion picture credits. So on the national level they understand the importance of this," he said.

Kucharo said he hopes that mentality will trickle down to state lawmakers.  Arizona has voted down legislation that would give tax credits for filmmakers here in the past.

"We're thinking now with a new legislature, new people in that, we're probably going to have a chance to actually go in and show the benefits of this," Kucharo said.

Copyright 2013 CBS5 (KPHO Broadcasting Corporation). All rights reserved.

Powered by Frankly