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martes, 16 de enero de 2018

Victory: 160+ companies announce big bonuses and benefits for employees after tax cuts

On Jan. 3, a list was released of 40 companies offering bonuses of up to $2,000 to employees as a direct result of the tax cuts advocated by President Donald Trump and congressional Republicans — but that was only the beginning.

By Saturday, the list had exploded to included 164 companies that gave bonuses to employees and lowered fees, citing the tax cuts.

Some companies gave bonuses as high as $3,000, others increased contributions to 401k plans and raised wages.

The Money Cometh

Companies like JetBlue, AT&T, Suntrust Banks, and Bank of America are leading the charge, giving bonuses to thousands of employees.

“You’ve likely seen the news about U.S. tax reform. We believe these tax changes will be positive for our company and provide us the opportunity to do good things for our Crewmembers, customers and shareholders,” JetBlue, which gave $1,000 bonuses to 21,000 employees, said in a statement.

Bank of America announced that it is offering $1,000 bonuses to 145,000 U.S. employees.

“Beginning in 2018, we will see benefits from the tax reform, too, in the form of lower corporate tax rates,” Bank of America CEO Brian Moynihan said in a statement. He continued:

In the spirit of shared success, we intend to pass some of those benefits along immediately. U.S. employees making up to $150,000 per year in total compensation – about 145,000 teammates – will receive a one-time bonus of $1,000 by year-end.

“The Holy Grail”

Other companies, including Capital One and Walmart, are getting in on the bonus action.

In an interview with the network, Kiddar Capital CEO Todd Hitt called the GOP move “the holy grail of tax returns” when he announced his employees would receive a bonus equal to between 5 and 15 percent of their salaries.

“You’re going to see tons of it, you’re going to see it not just in the big companies that are Wall Street-based companies, but privately-held companies,” Hitt said of the widespread bonuses. “Ownership is going to be able to give back some of the ownership to their employees. Everything sort of bumps up.”

Watch his full interview:

Kiddar Capital giving employees bonuses after Trump’s tax bill

Kiddar Capital CEO Todd Hitt touts the economic benefits from President Trump’s tax overhaul, which was signed into law in late December.

The list of all the companies offering bonuses, compiled by watchdog group Americans for Tax Reform, can be seen here.

Dems Find Cloud in Silver Lining

Proving that nothing the president or Republicans do will be good enough for Democrats, House Minority Leader, Rep. Nancy Pelosi (D-Calif.), called these thousands of extra dollars in Americans’ pockets “crumbs.” She said this despite having once praised an extra $40 in payroll tax cuts passed by former President Barack Obama and Democrats in 2011 as “a victory for all Americans” that will “make a difference,” Fox News reported.

“In terms of the bonus that corporate America received versus the crumbs that they are giving to workers to kind of put the schmooze on — it’s so pathetic,” Pelosi said on Thursday. “I think it’s insignificant.”

But in 2011, she was singing another tune for the measly $40 cuts.

“The American people spoke out clearly and, thanks to President Obama’s leadership, 160 million Americans will continue to receive their payroll tax cut – nearly $40 per paycheck in the pockets of the average family,” Pelosi said in 2011. “I salute the work of the unified House Democratic caucus on behalf of the American people.”

Despite nay-sayers like Pelosi, it is clear that the extra money will make a big difference in the lives of everyday Americans this new year. Trump and his fellow Republicans are truly making America great again.


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