Boeing CEO says GOP tax reform is essential

SEATTLE — The GOP tax reform plan is essential to U.S. growth, according to Boeing CEO Dennis Muilenburg.

Muilenburg told CNBC’s Jim Cramer that reducing the corporate tax rate will unlock the economy.

“I think tax reform is the single most important thing we can do in this country to unleash economic energy,” he said. “It’s going to unleash growth.”

Muilenburg says the tax cut will allow Boeing to hire more employees and provide better dividends to shareholders.

“We’re going to invest in capital; new product lines. It’s going to create more manufacturing jobs. Our shareholders are going to benefit too, right…”

Boeing’s effective tax rate was 23 percent last year.

A few years ago, the state gave Boeing at least $8 billion in tax breaks. The hope was the company would be able to at least maintain its workforce. Since then, however, Boeing has made cuts to its workforce in Washington, eliminating more than 12,000 jobs.

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