Gov. Gavin Newsom (D-CA) touted the $750 million tax credit for film and television made in his state, calling it a “big part” of the “renewal” for Los Angeles. Newsom’s signature doubles the current tax credit of $330 million.

California Gov. Gavin Newsom celebrated the expansion of the state's film and TV tax credit to $750 million on Wednesday.

"Sacramento did its job, now it's time for L.A. city to do our job," Mayor Karen Bass added, pledging to streamline permitting processes for the industry.