Biden/Harris, Hollywood, and COVID-19: An engaged trio?

 

Perhaps one of the most pressing issues for the entertainment industry at present, the need for some form of COVID-relief (and knowing who will be eligible for it) is a hot talking point. With the elections finally behind us, and the prospect of a Biden/Harris administration now incoming, what could happen on this thorny issue? BLAKE & WANG P.A takes a look

The first question is whether or not the ‘lame duck’ congress session will address the package, or if we will actually be forced to wait on Biden being sworn in. Should anything happen during this fraught transition period, the other question will be whether Trump will finally work with Democrats or continue to teter between suggesting massive bailouts and refusing to negotiate. 

Exhibition theaters have been the most vocal about needing urgent help now, but other sectors of the entertainment industry are equally as hopeful. From tax credits to retain workers through hiring incentives and cheap small-business loans, a lot of help is hoped for. Likewise, it’s hoped that local and state governments will get help as well, as TV/film tax credits are an obvious choice to cut from the budget if not. Thorny questions have been raised around business liability, too, although that appears destined to be tackled by separate legislation.

Let’s be honest. Pre-election negotiations got nowhere. Currently, it looks likely that Mitch McConnel would also only vote for the plan if it helps the Republicans secure the Senate. Given Georgia’s startling blue flip, that may not be a popular push.

If the lame-duck fails to resolve it, then we will likely need a capital injection from Biden to push things through. All in all, despite the election, has passed, we’re not really closer to a resolution for the industry. All we can do is wait and see.