Posted on 11/02/2017 10:44:59 AM PDT by Red Badger
WASHINGTON (AP) — A $100 billion semiconductor company based in Singapore will legally relocate its home address to the United States, President Donald Trump announced Thursday.
Broadcom Limited, which manufactures communications chips around the world, said it would relocate its legal address to Delaware once shareholders approve the move, bringing $20 billion in annual revenue back to the U.S. The move will allow Broadcom to avoid a cumbersome federal review process.
The Oval Office announcement was tied to the release of congressional Republicans’ tax reform proposal, which would drastically reduce corporate rates and makes it easier for companies to deduct foreign taxes.
The company credits the GOP plan with making it easier to do business in the U.S. “America is once again the best place to lead a business with a global footprint,” Broadcom CEO Hock Tan said.
However, Broadcom’s move to the U.S. will take place regardless of whether the Republican plan passes, the company said.
A year ago, the company entered a $5.5 billion agreement to merge with U.S. network provider Brocade Communications Systems, but that has been delayed while it’s scrutinized by the Committee on Foreign Investment in the United States. The high-level government committee, familiarly known as CFIUS, investigates proposed acquisitions of U.S. companies by foreign buyers on national security and intellectual property grounds.
Yes Indeed. Trump gets more done for the USA in one day than 0bozo did in one year
Sweet!! Broadcom, previously known as Avago, currently pays almost no income tax as a Singapore based company. Expect a lot more of this to come. Probably bad for tax havens like Ireland, Cayman Islands, etc....
Keep on winning baby!!
8 years....................
This is impeachable. The President of the United States needs to stay out of manufacturing! hahahahah....Liberals... I don’t think they’ll try to spin this, they just won’t cover it.
I hope they set up shop in Wilmington, that place needs the benefits a corporate headquarters can bring. And, they already have I-95 built so people can get to work easily.
He will get no credit from the media or democrats.
I DO thank God for President Trump.
“If we don’t report it, it didn’t happen.”...................
President Trump Makes a Jobs Announcement (Broadcom today)
https://www.youtube.com/watch?v=1Z_ZcMdYRrA
This is meant to be funny....Winning...
Connecticut is New York’s MiniMe.....................
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.
