Corporate taxes will increase. Less profit for Execs, Upper leadership. But hey, they want to keep receiving their millions. Where will the cutback will be?
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Taxes don't really matter. Unless you eliminate minimum wage and drop the average pay to around $5/hour and no medical, you could make the tax rate -10٪ and it still costs less to move work overseas. All you really have to protect jobs is that aerospace is a highly export restricted industry, and maybe tariffs.
The tax arguments are also mute because profits are typically bookkept offshore anyway. As long as they use the money to build factories and train employees in other countries, the US simply will not tax it. 50 of the top 100 stocks paid zero in US taxes last year despite trillions in profits.
Until a law is passed saying that if you want to be a US company, with the protections and benefits that come with that, you must pay the US the difference between foreign corporate tax rate and the US rate, nothing will change. (BTW: The US does that for employees working in other countries to calculate their personal income tax rate.)
Offshore the daddy Oh
There's whiskey in the jar
US worker bees obsolete soon. Big congratulations to non- US workers whom we all report to soon in the name of diversity
Wow, Mad dog makes some major bank to contribute that much to this PAC.
https://www.opensecrets.org/political-action-committees-pacs/honeywell-international/C00096156/donors/2020?start=50&page_length=25
Ask the $200+ club.
They're already there. White CEO, CDO, Pres, Vice Pres in the US.. then cheap labor - workers from India, Mexico, Europe, Asia.
Honeywell pays less tax to the US than it does internationally.
The equation is not about cutbacks .. it is about where money is earned.
Strategy will be to move more work overseas.. especially defense products. They will do this by creating itar free equivalents and then stripping the current operations down to a dual use application.. yes even for accelerometers, gyros, pressure sensor, INU, IMU, FADEC.. every one of these have current nextgen tech being built outside the US to end ITAR labor cost roadbloads.
Finally they will open sales entities in places with favorablable taxes like ireland.
If USA becomes even more aggressive at trying to claw back taxes then honeywell will just cease to be a USA company. Note - USA is already the most aggressive taxing state since the romans, one of a handful of countries that tax solely on basis of geographic birth location and irrespective of where you live an work.