Apple CEO Tim Cook said Wednesday that the company’s newly announced investments came in part thanks to Republicans’ tax reform.
Cook said Apple’s efforts on this front were “in the works” before the law was passed, but he credited the new tax code with enabling it, CNBC’s Jim Cramer reported. One aspect of Republicans’ tax reform allows companies to repatriate overseas capital back to the United States, creating new economic activity.
“While some of these efforts were indeed in the works, Washington enabled most of this job-creating plan to occur by changing the tax code to allow companies to return capital to all stakeholders,” Cook told Cramer Wednesday.
Cramer also related Cook’s argument that Apple’s investments would have a large effect on the economy.