Hollywood jobs flee overseas as Congress scrambles to stop production exodus - with Trump's blessing

Congress is scrambling to stop one of the United States' most iconic industries from fleeing overseas and taking thousands of jobs along with it.

The U.S. TV and film industry has been hemorrhaging work for years as production companies and movie studios flee to places like Europe and Canada for friendlier tax regimes and other attractive financial policies. It prompted President Donald Trump to publicly call on Congress to pass legislation aimed at incentivizing entertainment studios to bring their production back home - and an unlikely alliance of lawmakers is heeding the call.

A new bill that could potentially end up in a bipartisan tax package at the end of this year would push film and TV studios to bring their productions back to the U.S. via new tax incentives, with extra support if they choose to bring development to rural communities.

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"Since I was a child, I was moved and inspired by the stories of America's greatness, by living out the American dream, and by the notion that I could do and achieve anything in this world, if I set my mind to it, and most of that was driven by a whole lot of American-made movies," Rep. Nathaniel Moran, R-Texas, told Fox News Digital. "I want this next generation to be inspired the same way, and I do not want American storytelling to go overseas, to be diluted by values from overseas."

Moran's East Texas congressional district is largely rural and a far cry from the Sunset Strip that was home to much of America's filmmaking history.

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He's one of the House lawmakers leading the Motion Picture, Television, and Entertainment Revitalization Act, a bill aimed at bringing film and TV jobs back to the U.S. by creating a federal tax credit for domestic productions. It would further incentivize studios to film in rural areas with added financial benefits in areas deemed to be federal opportunity zones.

"This bill is extremely important to send a message that American storytelling does not just happen in California or New York. It happens all over America, including rural America," Moran said.

The bill is notably led in the Senate by Sen. Adam Schiff, D-Calif., a top Trump foe, and Sen. Tim Scott, R-S.C., one of the president's biggest supporters in the chamber.

Moran's House colleagues who are helping to spearhead the bill include Reps. Mike Carey, R-Ohio, Brian Jack, R-Ga., Linda Sanchez, D-Calif., and Tom Suozzi, D-N.Y.

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Suozzi told Fox News Digital that his home state was "watching good-paying jobs and production move overseas," adding, "We can't let that happen."

"Democrats and Republicans agree we need to keep these jobs here," Suozzi said.

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But some, particularly on the right, might bristle at the prospect of awarding more lenient tax policies to an industry they perceive as having a longtime liberal bias - something Moran pushed back on.

Moran said his state, for example, was home to "conservative," "faith-based," and "patriotic" entertainment production that was also creating jobs and stimulating local economies.

"So I would say to those that are challenging this, I would say, well, do you want to see the stories and the movies and the TV productions that we watch go overseas, and be influenced by the culture and the values of other countries, somewhere else that do not love freedom like we do in America?" he posed.

But the end of this congressional term is fast approaching, and getting anything passed after the November election will be an uphill battle.

"I feel confident that there will be some kind of bipartisan tax package during the lame-duck session, and my hope would be that this, or a version of this bill, makes it into the final text," Moran said.