“Since we passed tax cuts, roughly 3 million workers have already gotten tax cut bonuses — many of them thousands of dollars per worker. Apple has just announced it plans to invest a total of $350 billion in America, and hire another 20,000 workers.”
FACT CHECKER | Trump suggests Apple is investing $350 billion in the United States over five years because of a tax package he signed into law in December.
That’s a stretch.
Apple announced a five-year investment plan in January, which includes $30 billion in capital expenditures and roughly $275 billion in domestic spending. This represents the bulk of its $350 billion investment plan. But the company did not say whether these moves were long in the planning or spurred by the tax changes.
Apple did say it would be making a $38 billion tax payment to repatriate overseas profit under a provision of Trump’s tax law. And like other big U.S. companies, Apple responded to the tax legislation by handing out bonuses to its employees.
It’s not clear from Apple’s announcement that it is dialing up U.S. investment levels. The tech giant spent “between $12 billion and $15 billion on projects such as facilities or land globally in the past few years, though it has not said how much of that went to U.S. projects.”