Trump Embraces Tax Reform Plan, Takes Preemptive Shot At Critics

AP  Evan Vucci

"America is again the best place to lead a business with a global footprint", says Broadcom CEO Hock Tan, "thanks to you Mr. President, business conditions have steadily improved".

The president touted Broadcom Limited's decision to move its headquarters from Singapore to the USA, bringing $20 billion in annual revenue and adding to the company's 7,000 workers already in America, as part of a trend.

The company says it will legally relocate to DE once shareholders approve the move, bringing $20 billion in annual revenue to the U.S. The White House says it's the largest such move to the U.S.in decades. But Broadcom said it would make the move even if no corporate tax reform comes to fruition.

Tan, who also spoke at the event, said Broadcom's move to "redomicile" in the US would bring in $20 billion of annual revenues into the country.

Bloomberg reports that Broadcom, which generates $13.3 billion in revenue and has a market capitalization of $109 billion, is pursuing an acquisition of San Diego-based Qualcom, which generates revenue of $22.3 billion and has a market capitalization of $87 billion.

Trump said the move is expected to create jobs stateside. "Well, it means something again", said Trump, adding his administration is "working every day to make the United States the most attractive place to do business". "From our base here, each year we will invest $3 billion in research and engineering and $6 billion in manufacturing, resulting in more high-paying tech jobs".

Broadcom corporate headquarters are already located in San Jose, Calif., but it will relocate its legal address from Singapore to DE once shareholders approve the move.

"We will restore our competitive edge by reducing business taxes for the first time in more than 30 years", Trump said.

"The proposed tax reform package would level the global playing field and allow us to compete worldwide from here in the United States", Tan said in a statement.

Related:

  • Even Apple Can't Believe Apple's Q4 Results

    Even Apple Can't Believe Apple's Q4 Results

    In the final minutes of trading on Thursday, shares hit $168.11, a rise of 51 percent in the last 12 months. During the September quarter previous year , Apple sold 45.5 million iPhones.
    New York City bike path truck rampage: Who are the victims?

    New York City bike path truck rampage: Who are the victims?

    Jimmy Drake says he drove his son every day to the train terminal in Hoboken so he could catch a train to his job in the city. Argentine President Mauricio Macri mourned the loss of his countrymen in a post on Twitter late on Tuesday night.
    What Got Mark Hamill to Return to the Star Wars Galaxy?

    What Got Mark Hamill to Return to the Star Wars Galaxy?

    While Luke will probably have a key role to play in the new movies, it’s certain the new actors will dominate the storyline. He felt he needed to know what all those years have done to Luke even if the material doesn’t get told in the actual movie.
  • OnePlus will keep the headphone jack 'for the time being'

    OnePlus will keep the headphone jack 'for the time being'

    If the leaked information is accurate, it's possible the OnePlus 5T will be available to buy at end of November or early December. As for why the OnePlus 5T will have a headphone jack, the OnePlus CEO says a primary reason is the audio quality.
    Bachelor party in Kiev — unforgettable impressions are guaranteed

    Bachelor party in Kiev — unforgettable impressions are guaranteed

    Spectacular dancers will complement the spectacular dance of any composition, leaving an unforgettable impression in your memory. A special chic to the club is given by colorful and incendiary performances, over which a professional choreographer works.
    As the confetti settles and the clean-up from Cleveland’s first major professional sports championship parade in over 50 years begins, attention turn to next season.

    As the confetti settles and the clean-up from Cleveland’s first major professional sports championship parade in over 50 years begins, attention turn to next season.

    We’ve already seen the green shoots of something great this term and look like they could make a playoff push next season. Cavs have work cut out The defending champs have their work cut out keeping the title winning roster together this summer.
  • Ittefaq stars with Karan Johar come together for lunch

    Ittefaq stars with Karan Johar come together for lunch

    Sonakshi Sinha , Sidharth Malhotra , and Akshaye Khanna are gearing up for the release of their upcoming film-Ittefaq. Son of Ravi Chopra, Juno is the grandson of the legendary Baldev Raj Chopra (B.R.
    Global Resource Coin

    Global Resource Coin

    In addition, from the year 2018 GRC’s cryptocurrency rate is expected to grow due to its social usefulness and relevance. In order to do this, you need to have a considerable amount of money, a special financial education and a special license.
    Wise casino advices

    Wise casino advices

    Tips casino players online You need to understand the difference between traditional casinos and online casinos. Still, the main goal, anyway, is to get a prize and the opportunity to become rich without putting an effort.
  • Saudi-led Air Strike Kills 21 People in Yemen

    As many as 29 civilians have been killed and several others injured as Saudi warplanes dropped bombs on Yemen's extreme northwest. Tens of thousands of Yemenis have been injured and martyred in Saudi-led strikes, with the vast majority of them are civilians.
    US Law Enforcement Hunting Second Person of Interest in NYC Truck Attack

    US Law Enforcement Hunting Second Person of Interest in NYC Truck Attack

    Saipov allegedly left a note in the truck that translated to "ISIS endures forever", though authorities and Gov. On Thursday, Kadirov released a statement to The Associated Press through a source in touch with his family.
    Galaxy S8 Beta Program Leaks, Oreo Update Round The Corner?

    Galaxy S8 Beta Program Leaks, Oreo Update Round The Corner?

    Specifically, the deal says that you'll get Samsung reward points that you can redeem for a Samsung Rewards Visa Card. It also comes with a choice of biometric authentication methods and Samsung's defense-grade Knox security platform.

Comments

Other news