Boeing CEO praises tax bill passed by Congress

Says company to spend $300 million in investments

  • Wednesday, December 20, 2017 3:13pm
  • Business

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 Business

Credit card service provider moves to Kent

Company contracts with credit unions

Minuteman Press opens in Kent

For the Reporter Minuteman Press – a full-service printing and marketing design… Continue reading

County’s new solid waste disposal rate to support facility upgrades, service improvements

A small increase in King County’s solid waste disposal rates takes effect… Continue reading

Workshop helps property owners deal with alder trees

Red alder can be a vexing species for property owners as older… Continue reading

‘In it for the long haul’

Members of the International Union of Operating Engineers Local 302 (IUOE) picket… Continue reading

Brown Bear Car Wash celebrates 61rst birthday on Aug. 23 with free car washes

Brown Bear Car Wash turns “61” next Thursday, Aug. 23, and celebrates… Continue reading

Labor market takes a step up in July

State’s unemployment rate of 4.7 percent matches a historical low

SHAG & Independent Living, Inc., hosts career fair Aug. 17

SHAG & Independent Living, Inc., hosts a career fair on Friday, Aug.… Continue reading

Kent Downtown Partnership invites public to participate in online survey

Purpose is to gain feedback, help KDP’s board set short and long-term goals for the downtown’s future

King County Library System’s new eCard is available

Provides online access opportunity for users

$5 million available to help customers pay their PSE bills

Funds available for customers in 10 counties, including Seattle and Tacoma

Kent CrossFit plans Officer Moreno fundraiser

Workout event set for Aug. 11