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California lawmakers warn Newsom budget tax credit cap threatens Hollywood jobs

California lawmakers are warning that a tax credit cap in Gov. Gavin Newsom’s final state budget could derail the state’s push to keep Hollywood jobs in the state.In a July 10 letter obtained by FOX Business, 39 California legislators urged Newsom and other lawmakers to exempt the state’s Film & Television Jobs Program — aimed at keeping productions in the Golden State — from the cap. They warned the change could "significantly kneecap" the program, which was expanded just last year."We understand the budget agreement is in place, but this problem must be fixed before the end of this sessi...