Rob Lowe criticized the lack of tax credits and high costs in California, leading to film productions moving overseas. He cited his own show, 'The Floor,' filming in Dublin due to lower costs.
President Trump announced a 100% tariff on foreign-made films, blaming other countries for drawing productions away from Hollywood. This follows Lowe's comments by a month. California's Governor Newsom disputes the President's authority to impose such a tariff.
Hollywood remains a significant contributor to the U.S. economy, with over 2.3 million jobs in 2022. However, production spending is down 26% from 2022, and other locations are becoming increasingly popular filming destinations (Toronto, UK, Vancouver, Central Europe, Australia).
California approved a record number of films for tax incentives and plans to significantly increase its film tax credit budget. Despite this, the overall picture shows a decline in Hollywood production, prompting responses from both political figures and industry insiders.
President Trump appointed actors Jon Voight, Mel Gibson, and Sylvester Stallone as “special ambassadors” to attract investment back to Hollywood.