The tax reform bill is working for the economy and jobs. Chuck Robbins, the CEO of Cisco, recently appeared on the FOX Business channel and said that tax reform is why his company has been able to bring billions more into the U.S.
When asked he says:
“It was 100 percent the tax reform impact that enabled us to bring back $67 billion, which we’ve completed.”
Watch the video:
— FOX Business (@FoxBusiness) May 26, 2018
Robbins was one of the early fans of the tax reform plan. This is from CNBC last fall:
Cisco CEO Robbins: We are optimistic about tax reform
Cisco CEO Chuck Robbins said he’s “optimistic” about tax reform, and said that his company is one of the top five companies that would benefit from its passage.
“We see increased M&A. We see investments in innovation, innovation centers. We see the ability to do, obviously, dividends and buybacks as well. So we’ll leverage the cash across all aspects of our capital strategy,” Robbins told CNBC’s “Squawk on the Street” Friday.
Robbins said the company has been taking on debt “to a certain point” in the absence of domestic cash.
“The territorial tax system just gives us more flexibility to move cash around as we need it depending on where we need to put it to use,” Robbins said. “And the place we like to put it to use is in the United States.”
He was right!