Have no fear Hollywood! Your favorite Colorado legislator Tom Massey is back again with another movie-making corporate welfare bill. You may remember him from a gem of a bill last session that would have implemented a 10 cent movie ticket tax at your local theater in order to subsidize movie production in Colorado. Thankfully it failed, even after the tax was re-written to be a “voluntary” donation. The Reason Foundation’s Harris Kenny wrote an op-ed for us outlining the bad economics regarding movie production subsidies. Yes, subsidies for Hollywood might attract some movie-making in Colorado. However, that is not the full story. To see the big picture, you have to ask, “at what cost?” Harris shows that the cost of handouts are much larger than any benefit movie production might bring.
I learned this morning in the Chieftan that despite his lack of success in subsidizing Hollywood movie producers at rates higher than New Mexico and Utah for the past 7 years, he is determined to shake some more pennies from Colorado taxpayers before he gives his final farewell. Details of what Rep. Massey is cooking up are uncertain, but we do know that he’s been working with Governor Hickenlooper on his master plan. With Hick’s blessing, there’s no telling what corporate welfare scheme they’ll be able to sell to the public.