Apple says the new tax law will help it contribute $350 billion to the U.S. economy over the next five years.
It says it will create 20,000 new jobs and open a new campus.
Apple expects to pay about $38 billion in taxes for the horde of cash it plans to bring back to the United States.
On the heels of the Tax Cuts and Jobs Act’s passage into law, CNBC reports that Apple will contribute $350 billion back to the U.S. economy.
“[The company] said it expects to pay about $38 billion in taxes for the horde of cash it plans to bring back to the United States. This implies it will repatriate virtually all of its $250 billion in overseas cash,” Anita Balakrishnan of CNBC writes. “Apple also said it will spend over $30 billion in capital expenditures over the next five years.”