(Lansing, MI) -- Tax credits for the film industry are costing Michigan taxpayers millions of dollars, according to a report released today. The Senate Fiscal Agency study found that the tax credits brought a net loss in tax revenue to the state of nearly 34-million dollars last year, and a projected loss of almost 90-million dollars this year. Supporters of the tax credits, however, argue that the growing industry is providing jobs for people who have lost jobs in other fields. The "Wall Street Journal" reports that film producers are expected to spend 650-million dollars in Michigan this year.
-Metro Source
