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As you know, the Tax Cuts and Jobs Act was signed into law by President Trump at the end of last month. Since then, we have already seen big results for hardworking Americans.
More than 1 million (and counting) Americans will receive bonuses thanks to the simpler and fairer tax system created by the Tax Cuts and Jobs Act. Not only are employees receiving bonuses, companies are raising the minimum wage, increasing 401(k) contributions, and investing in local communities because tax reform is igniting the economy.
Here are just a few examples:
AAON: $1,000 bonus to all non-officer employees
Aflac: $250 million boost in U.S. investments and increased 401(k) benefits for workers, including a one-time contribution of $500 to every employee’s retirement savings account
Alaska Airlines: Giving its employees a $1,000 bonus
American Airlines: $1,000 bonus to non-officer employees
American Savings Bank: $1,000 bonus to nearly its entire workforce and increased minimum wage to $15.15 per hour, up from $12.21
Aquesta Financial Holdings: $1,000 bonus to all of its employees and increased minimum wage to $15 per hour
Associated Bank: $500 bonus to nearly all employees and increased minimum wage to $15 per hour, up from $10
AT&T: $1,000 bonus to its 200,000 U.S. workers and $1 billion boost in U.S. investments
Bancorp South: $1,000 bonus to 4,000 employees and increased pay for more than 70 percent of employees
BB&T Corp.: $1,200 bonus for almost three-fourths of its associates and increased minimum wage to $15 per hour, up from $12
JetBlue: $1,000 bonus to 21,000 employees
Nationwide: $1,000 bonus to 29,000 employees and increased contributions to 401(k) accounts for 33,000 employees
Southwest Airlines: $1,000 bonus to its employees and $5 million donation to charity
SunTrust: $15 minimum wage raise, $50 million increase in community grants, a one percent 401(k) contribution for all employees, and more
TCF Financial: $1,000 bonus for full-time employees and $500 bonus for part-time employees and $5,000,000 donation to its corporate foundation
Wells Fargo: $15 minimum wage raise, up from $13.50 and increased charitable giving by approximately 40 percent to $400 million
And the list goes on and on. To see many more examples, click here.
I am thrilled tax reform is already helping hardworking Americans across the country. I look forward to this list growing even more. |
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