Loews CEO Tisch on Tax Bill, Buybacks, Offshore Drilling

The video discusses the impact of high tax rates on U.S. competitiveness and economic growth, highlighting the potential benefits of repatriating overseas dollars and expensing capital goods. It explores the effects of tax cuts on investment and wages, emphasizing the importance of demand-side factors. The debate between buybacks and capital expenditure is examined, with a focus on how companies recycle capital. The video also addresses the controversy over state and local tax deductions, particularly in high-tax states like California and New York. Finally, it considers the prospects for offshore drilling and energy investment, noting the need for oil companies to increase capital budgets.

What concerns does the speaker express regarding the state and local tax deductions?

How does the speaker perceive the potential effects of tax reform on businesses in high-tax states?

What is the speaker's opinion on the future of offshore drilling in relation to the current administration's policies?