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

Business alliance serves women of African diaspora in South King County

Nourah Yonous launched the African Women Business Alliance in 2017 to find ways to lift women up.

Kent Turkey Challenge raises $16,762, collects 10,573 pounds of food

Donations to Kent Food Bank provided Thanksgiving meals for hundreds of families

Gift of Peace campaign: Jacksons Food Stores call on the community to help end domestic violence

During this season of giving, now through Dec. 25, Jacksons Food Stores… Continue reading

Office Depot will pay $900,000 over deceptive virus screening, state AG says

An estimated 14,000 Washingtonians paid for repair services they may not have needed

Payroll employment moves lower in October; unemployment rate slightly lower

Washington’s economy lost 1,600 jobs in October and the state’s seasonally adjusted… Continue reading

Airways Brewing plans Shop with a Cop fundraiser Nov. 22

Monies for children to buy holiday gifts

A King County judge found the company misled customers into thinking it was a charity. Photo courtesy of the state Attorney General’s office
Judge rules Value Village deceived customers

The King County judge found the company misled customers into thinking it was a charity.

Taste of Turkey

New restaurant brings unique flavors of a region to Kent-area palates

Brown Bear Car Wash salutes veterans, active military with free car washes on Veterans Day

As a way of saying “thank you” to the country’s military, Brown… Continue reading

Muckleshoots, Seahawks form 10-year partnership

The Muckleshoot Indian Tribe have entered into a 10-year partnership with the… Continue reading

Cellular Sales opens new Verizon store in Kent

Outlet looking to hire employees