Michael Garcia | University of Texas
On January 17, Apple and their CEO Tim Cook announced the company's intention to bring $350 Billion, mostly from their foreign holdings, back to the United States with a 5-year plan for national investment. The plan would include building a third Apple headquarters, $38 Billion in tax payments, and 20,000 new jobs across the country. Formerly apart of the Presidents Economic Advisory Board, many believe the move was motivated by the December 22, 2017 tax reform bill signed by the President which heavily reduced corporate tax rates.
During a recent interview on ABC's 'World News Tonight with David Muir,' Cook asserted that the investment structure would have existed in some part without the tax reform. While it is not clear the extent of how Apple's investments in the United States would have changed with the tax reform, the investment is considered a serious economic win by both the president and Apple.