President Trump is keeping one of his major campaign promises, which was to bring companies back to America!
The new GOP tax bill has slashed the corporate tax rate from 35% to 21%, which will have companies all over the world seeking to move their businesses to the U.S.
Case in point, we already have a company in Canada that may be looking to switch locations.
However, businesses responded by voluntarily using their funds that would now be spared under the new tax bill to give back to their employees and their communities. AT&T and Comcast both made commitments to give thousands of their employees bonuses, and other companies promised to invest billions into U.S. infrastructure.
But one senator is pointing out something that many haven’t thought about: Businesses could flock to the United States from Canada in pursuit of lower taxes.
Sen. Johnny Isakson (R-GA) made what was probably a reference to Burger King buying Tim Hortons and moving to Canada, according to the Canadian Press:
“We’re not gonna have any more pharmaceutical companies buying donut-makers in Canada and move their headquarters to get a lower tax rate.
We’re gonna have a lot more companies thinking about becoming donut-makers and doing it right here in the United States … It’s an incentive to stay in America if you’re located there, and come to America if you’re not.”