During last night’s State of the Union address, President Donald Trump singled out Apple as a company that benefitted from Republican tax cuts — and is now giving back as a result.
“Since we passed tax cuts, roughly 3 million workers have already gotten tax cut bonuses — many of them thousands of dollars per worker,” Trump said. “Apple has just announced it plans to invest a total of $350 billion in America, and hire another 20,000 workers. This is our new American moment. There has never been a better time to start living the American Dream.”
On the same page for once
This isn’t the first time Trump has mentioned Apple’s recently announced investments in the U.S. During a recent speech at a factory in Pennsylvania, Trump said: “When I heard the news yesterday — and Tim Cook is a great guy, the head of Apple — when I heard the news, I heard $350 billion and I said, ‘you mean $350 million, that is going to be a beautiful plant,’ and they said ‘no,’ they said ‘it is $350 billion.’ I just called Tim Cook and thanked him, but I don’t imagine there has ever been an investment that big in our country by a company.”
Shortly following the new tax law, Apple told employees today that it plans to give all employees $2,500 worth of restricted stock. Trump applauded Apple’s moves on Twitter, saying “Great to see Apple follow through as a result of TAX CUTS. Huge win for American workers and the USA!”
The tax break and Apple’s U.S. investments have marked a rare time that both Apple and Trump have been on the same page. During Trump’s campaign, he suggested boycotting Apple products due to Apple’s privacy standoff with the FBI. Apple also ramped up its lobbying spend last year, shelling out $7 million to battle many of the immigration-related regulations and proposed new laws issued by the Trump administration.
You can read a transcript of President Trump’s State of the Union address here.