Tim Cook said in a statement:

“We have a deep sense of responsibility to give back to our country and the people who help make our success possible.”

The big question: How much of an economic effect will this have? The company says more than $350 billion over the next five years, but how much of that goes beyond what it would have spent anyway is unclear. (For starters, its new campus won’t be as ambitious as Amazon’s planned HQ2.)

The tax flyaround

• Verizon will save nearly $17 billion because of the new tax code’s effect on its deferred tax liabilities. (WSJ)

• What corporate America says will come of the tax overhaul: more annual savings, bigger pension contributions and larger stock buybacks. (WSJ)

C.F.P.B.’s latest budget request: $0

Mick Mulvaney, the acting director of the Consumer Financial Protection Bureau, is continuing his efforts to rein in the agency.

His latest tactic: starve it of cash, reports the NYT’s Stacey Cowley.

Here’s what he did:

• The consumer bureau is funded directly by the Federal Reserve. Each quarter the watchdog requests money for its operations from the central bank.

• On Wednesday, Mr. Mulvaney requested $0 for the current quarter.

• Mr. Mulvaney said the bureau is sitting on a $177.1 million reserve fund. He plans to use that to cover the bureau’s projected quarterly expenses of $145 million.

While the move is largely symbolic, it follows other recent moves by Mr. Mulvaney that spotlight the Trump administration’s desire to shift the consumer bureau’s trajectory.