Boeing CEO praises tax bill passed by Congress

Says company to spend $300 million in investments

  • Thursday, December 21, 2017 12:26pm
  • News

Boeing CEO Dennis Muilenburg praised the tax bill passed by Congress on Wednesday and about to be signed into law by President Donald Trump as a critical driver of business, economic growth and innovation for the United States and for Boeing.

“On behalf of all of our stakeholders, we applaud and thank Congress and the administration for their leadership in seizing this opportunity to unleash economic energy in the United States,” Muilenburg said in a news release. “It’s the single-most important thing we can do to drive innovation, support quality jobs and accelerate capital investment in our country.”

The simpler tax code and lower tax rate are closer to those enjoyed by Boeing’s global competition and will have a clear and direct benefit to Boeing, its employees and other stakeholders.

“For Boeing, the reforms enable us to better compete on the world stage and give us a stronger foundation for the investment in innovation, facilities and skills that will support our long-term growth,” Muilenburg said.

While Boeing is still studying all of the provisions of the new legislation, Muilenburg announced immediate commitments for an additional $300 million in investments that will move forward as a result of the new tax law:

• $100 million for corporate giving, with funds used to support demand for employee gift-match programs and for investments in Boeing’s focus areas for charitable giving: in education, in our communities, and for veterans and military personnel.

• $100 million for workforce development in the form of training, education, and other capabilities development to meet the scale needed for rapidly evolving technologies and expanding markets.

• $100 million for “workplace of the future” facilities and infrastructure enhancements for Boeing employees.

“Each of these investments benefits Boeing’s most important strength – our employees – and reflects the real-time impact and economic benefit of the reforms,” Muilenburg said.

The bill lowers the corporate tax rate to 21 percent from 35 percent starting Jan. 1.

More in News

Skilled, imaginative artist at work

Action Tattoo still going strong after 19 years

Reporter file photo
Classic chrome and mighty machines

Solid Rock Cruisers host Summer Cruise-in Thursday at former Big Daddy’s site

‘Together we are most effective’

Edgeview community gives back to those in need

King County Council awards grant to Auburn Food Bank

In a coordinated act of kindness from the King County Council, the… Continue reading

Auburn woman earns Saint Martin’s University Trustee Scholarship

Saint Martin’s University has named Sandra Trevino a recipient of its 2018-2019… Continue reading

Algona Family Fun Days returns to the park

The community came togther for some music, food, entertainment and rides at… Continue reading

Auburn School District hosts Welcome to School event Aug. 22

Auburn School District families are invited to the district’s Welcome to School… Continue reading

Police to increase DUI patrols Aug. 17 to Sept. 3

In Auburn and throughout the state

Wildfire smoke spreads into Auburn, Puget Sound region

Coming from Canada, Central and Eastern Washington

Most Read