‘House Of Cards’ Wants Md. To Boost Tax Credits
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ANNAPOLIS, Md. (WJZ)—The hit Netflix drama “House of Cards” has been a moneymaker in Maryland, where production has pumped $250 million into the state economy.
Political reporter Pat Warren explains the production company now wants something in return.
While fans are intrigued by the storyline, the show producer’s eyes are on the bottom line.
While “House of Cards” creator was interviewed on “CBS This Morning,” the show is creating a little drama in Annapolis, where lawmakers are considering millions more in tax credits for TV and movie production.
“I’m enormously pleased that we have landed here in the state of Maryland,” said Kevin Spacey.
Now Maryland is being asked to give them more tax credits.
A letter to the governor and Speaker of the House states that without a bigger tax credit, the show could pull up stakes.
“We go through a process here where there’s a lot of different people asking for appropriations. There’s a lot of need, and there’s a limit to the budget. We’re going to do the best we can to accommodate things, and I think we’ve been a good host to the ‘House of Cards’ as well as other portions of the film industry,” said Speaker of the House Mike Busch.
Others take a sterner approach.
“It’s almost like being held hostage by an industry that if we don’t give you more, then you’re going to leave,” said Del. Mike McDermott, (R) Eastern Shore.
Lawmakers are considering two bills to raise the industry tax rates from $7.5 million to $11 million or $18.5 million.
The economic return to the state is enough to give it serious consideration.
“When you’re fighting for economic opportunity it might be a contact sport without pads. Get used to it,” said Sen. David Brinkley, Senate Minority Leader.
The governor’s office states it is hopeful for a resolution.
“House of Cards” has been reimbursed $31 million for the first two seasons. The third season production won’t start until the producers are satisfied with the tax credits.
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