America has long been the world’s leader in film and television. But as more and more foreign films are being produced, that leadership is under serious threat. 

With Section 181 — the only federal tax incentive designed to keep production in the U.S. — currently set to expire at the end of this year, we risk losing more jobs and projects to foreign markets whose governments offer far more competitive incentives.

When productions move overseas, American workers, small businesses and communities from New York to California pay the price. We are leading a bipartisan effort to extend and strengthen Section 181 so that our film industry survives. This bipartisan legislation will renew this deduction for five years and will also double the current deduction cap, giving producers the certainty to keep investing here at home.

The economic impact of film and television is undeniable: The Motion Picture Association reports that the film and television industries support 2.32 million jobs, pay out $229 billion in annual wages, and sustain more than 122,000 businesses across the U.S. That impact is especially great in our congressional districts. In New York City alone, the most recent Film and Television Industry Economic Impact Study shows the sector supports 185,000 jobs, generates $18.1 billion in wages, and contributes $81.6 billion in total output.

In Los Angeles County, the global hub for film and television and home to such iconic studios as Disney, Paramount, Universal, Warner Bros., and others, the industry supports more than 325,000 jobs, generates $38.5 billion in wages, and contributes $117.2 billion in economic impact. Actors, production crews and local businesses, as well as millions of Americans, rely on domestic film and television production. Entertainment is a major indicator of the strength and resilience of a community and nation.

Productions like “Ray Donovan,” “Gotham,” “Boardwalk Empire,” “Blue Bloods” and “Fallout” in New York’s 11th District, as well as productions such as “Shrinking,” “The Mentalist,” “The X-Files,” “Mad Men” and “The Good Place” in California’s 28th District have not only entertained audiences but have also driven economic growth and supported hundreds of businesses and families in Staten Island and Brooklyn, and across Southern California in cities like Pasadena and Altadena. Together, we have seen how this industry fuels local economies, creates good-paying jobs, and showcases American talent across the country. Unless Congress takes action before the Section 181 tax deduction expires at the end of this year, we risk losing these opportunities.

The importance of this industry is evident to each of us — two sitting congresswomen in the entertainment capitals of the world, and a renowned actor and film industry leader. We know firsthand how difficult it is to compete with foreign tax incentives. Too often, producers are forced to take productions abroad, leaving American talent, workers and communities behind. The CREATE Act, helps to level the playing field, to ensure that our producers, directors, crews and creative professionals can continue making world-class entertainment here in the U.S.

This is not a partisan issue — protecting American jobs and keeping the entertainment industry strong is a goal shared by both Republicans and Democrats. With this critical incentive set to expire at the end of this year, it is imperative for Congress and our industry leaders to join forces, as we are doing, so that our robust entertainment industry remains competitive and continues to benefit American workers and bring joy to audiences worldwide for years to come.

Nicole Malliotakis represents New York’s 11th Congressional District and Judy Chu represents California’s 28th Congressional District in the U.S. House of Representatives. Jon Voight is a presidentially appointed special ambassador to Hollywood.