President Trump highlights Apple in first State of the Union speech

“There wasn’t a lot of talk about technology in President Trump’s first State of the Union speech Tuesday night, but he did take time to highlight Apple, citing its announcement earlier this month that it will invest $350 billion in the United States,” Hayley Tsukayama writes for The Washington Post. “Trump raised it as a crucial example of how the Republican tax cuts passed last year directly benefit the U.S. economy.”

“‘Since we passed tax cuts, roughly 3 million workers have already gotten tax cut bonuses — many of them thousands and thousands of dollars per worker — and it’s getting to be more every month, every week. Apple has just announced it plans to invest a total of $350 billion in America and hire another 20,000 workers,’ Trump said,” Tsukayama writes.

“Apple announced a five-year investment plan — which includes a new corporate campus — shortly after the new law passed. But it has not detailed which investments are directly linked to the tax cuts, apart from the $38 billion tax it will pay to repatriate its overseas profits.”

“Apple has given indications that the tax changes inspired a portion of its U.S. spending and investment goals, but not necessarily all of it,” Tsukayama writes. “Apple chief executive Tim Cook said in an interview with ABC News earlier this month that, ‘there are large parts of this that are a result of the tax reform, and there’s large parts of this that we would have done in any situation.’ Cook also told CNBC’s Jim Cramer earlier this month that the tax code changes created a better environment for Apple to execute its plans.”

I promised that my policies would allow companies like Apple to bring massive amounts of money back to the United States. Great to see Apple follow through as a result of TAX CUTS. Huge win for American workers and the USA! https://t.co/OwXVUyLOb1

— Donald J. Trump (@realDonaldTrump) January 17, 2018

Read more in the full article here.

MacDailyNews Take: It’s nice to hear Apple highlighted during the State of the Union.

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