The 61-year-old actor has bemoaned the relatively recent trend of big-budget productions being made elsewhere in the US, or even overseas, because of financial reasons.
Lowe - who enjoyed huge successes in the 80s, when he starred in movies such as The Outsiders, The Hotel New Hampshire, Oxford Blues, and St. Elmo's Fire - told Variety: "This is going to sound incredibly self-serving, but a large part of the budget for tax credit is above the line.
"All of these other territories give you credit for above the line, and Los Angeles doesn't. Until they do that, they're never going to get any of the big shows back."
Lowe previously explained that financial reasons prompted him to shoot his TV game show overseas.
He told The Hollywood Reporter: "It's criminal what California and Los Angeles have let happen — it's criminal. Everybody should be fired.
"Why do I shoot my American game show The Floor in Ireland? It's cheaper to bring in 100 people to Ireland than to walk across the lot at Fox."
Lowe stars alongside Will Brill and Gillian Jacobs in The Musical. And Greg Lauritano - who co-produced the film alongside Lowe - is delighted that they managed to shoot the project in Los Angeles, following the devastating wildfires in early 2025.
Lauritano - who previously served as a producer on Fairyland, the coming-of-age drama film - explained: "The local crew has so much passion for movies, and it's really set the tone for our entire production. Being awarded the California tax credit has thankfully helped to offset some of the expenses of filming here.
"Rob and I recently had an in-depth discussion about the importance of bringing production back to Los Angeles, and I'm incredibly excited to be doing just that and partnering with him on this exciting film."
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