President Donald Trump called Apple CEO Tim Cook to thank him for the company’s decision to repatriate hundreds of billions of dollars in cash to the U.S.
President Trump on Apple spending: “I just called Tim Cook and I thanked him. I don’t imagine there’s ever been a bigger investment in our country.”
— Eamon Javers (@EamonJavers) January 18, 2018
Apple made its decision following the recent passage of landmark tax reform legislation by Trump and the Republican controlled congress. Apple will bring back $350 billion to the U.S. over the next five years, will open another campus and create 20,000 domestic jobs.
“We have a deep sense of responsibility to give back to our country and the people who help make our success possible,” Cook said in a statement following the announcement. The company refused to bring back its cash to the U.S. under the old tax code saying the tax penalty would be too high.
Trump previously lauded Apple for its decision in a Wednesday tweet.
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