Intel is a world leader in designing and manufacturing essential technologies that power the cloud and an increasingly smart and connected world. As a high-tech manufacturer, Intel operates globally, yet most of its advanced manufacturing and research and development (R&D) is done in the United States (U.S.). Intel is one of the largest investors in R&D among U.S. publicly traded companies and invests heavily in the U.S. economy with capital and jobs. Intel supports a stable tax system that encourages U.S. innovation and manufacturing. Moreover, as a multi-national corporation operating on a global stage, Intel encourages a U.S. tax policy that provides a competitive global tax system for U.S. headquartered companies.