SAN FRANCISCO -- January 17th, 2018
Apple Inc. says the new tax law will allow it to contribute $350 billion dollars back to the U.S. economy over the next 5 years; including bringing much of its $252.3 billion in overseas cash holdings immediately back to the U.S. Additionally the new tax plan will help Apple create 20,000 new jobs and open a new campus back here on United States soil. Apple, a worldwide leader in the manufacturing of consumer electronics, software, computers, iPhones, and other high tech equipment reports the company stock has risen substantially since the Trump inauguration.
The global giant says it will pay a one-time tax of $38 billion on its overseas cash holdings and ramp up spending in the U.S., as it seeks to emphasize its contributions to the American economy after years of taking criticism for outsourcing manufacturing to China. It will also expand from 1 billion to 5 billion a fund it established last year for investing in advanced manufacturing in the U.S.
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