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.

Newsom said the bills, which he signed Monday night, are the most consequential housing reform in recent California history.

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