Jan 18, 2018

Apple Announces Massive Investment in U.S. Economy Following Tax Reform, Will Bring Back Overseas Cash

Post by Freedom Partners

“[W]e will cut taxes on American businesses to restore our competitive edge and create more jobs and higher wages for American workers,” President Trump promised Americans last September during a speech in Indianapolis.

Despite the critics who attempted to stop the historic achievement, the Tax Cuts and Jobs Act is already making a real difference for businesses and millions of employees and their families – and it’s only the beginning.

Apple Inc. made a major announcement regarding its investments and contribution to the U.S. economy, which it credits in part to the new tax law. CNBC reported:

  • Apple says the new tax law will help it contribute $350 billion to the U.S. economy over the next five years;
  • Apple will spend over $30 billion in capital expenditures over the next five years, including about $10 billion in U.S. data centers;
  • Apple says it will create 20,000 new jobs and open a new campus;
  • Apple expects to pay about $38 billion in taxes on the investment it brings back to the U.S.

In addition, Bloomberg reported that Apple is “issuing a bonus of $2,500 worth of restricted stock units, following the introduction of the new U.S. tax law, according to people familiar with the matter. The iPhone maker will begin issuing stock grants to most employees worldwide in the coming months.”

Freedom Partners, along with Americans for Prosperity, is launching a full scale, multimillion dollar education campaign that will demonstrate the tremendous benefits of pro-growth tax reform and show how the new tax law is directly helping Americans improve their lives.

Keep an eye on the Freedom Partners tax tracker for updates as the benefits of the pro-growth tax law continue to take shape.