21 Dec Here’s a Running List of How Tax Reform Is Benefiting Workers and Capital Expenditures
Dear Viewpoint readers –
I am going to run a continued log here of company announcements regarding investments they make into wages, employees, new hires, capital expenditures, business investment, and so forth and so on, in light of the historic corporate tax reform passed in the final weeks of 2017. There is a media narrative that says, “these greedy companies will do something unhelpful like buy back stock, and no one else will benefit.” That narrative is wrong on the facts and wrong on the theory. Stock buybacks and dividends, if deemed to be the most efficient uses of the capital, are highly stimulative and productive in a free market economy. But to the extent that companies will actually be wildly incentivized in this bill to invest in their people, product, and process, we want to document such for interest readers who deserve a counter-narrative to the tired class envy of the leftist media. Is that subtle enough?
- AT&T
AT&T, Comcast giving $1,000 bonuses to hundreds of thousands of workers after tax bill
- Fifth Third Bancorp AND Wells Fargo
Wells Fargo, Fifth Third Bancorp unveil minimum wage hikes after tax bill passage
- Comcast
Comcast (CMCSA) Announces $1,000 Bonuses for Most Employees Following Tax Reform
- Boeing
Boeing CEO: Tax reform will ‘unleash economic energy’
- Federal Express
FedEx CFO: We’ll hire more workers, if tax reform lifts GDP
6. Bank of America
Bank of America is Giving Some Employees a $1000 Bonus, Citing Tax Bill
7. PNC Bank
PNC Bank Announces Employee Cash bonuses After Tax Reform Bill
8. Sinclair Broadcast
Sinclair Broadcast says it will pay special $1,000 tax reform bonus to almost 9,000 employees
9. Associated Bank
Associated Bank increases minimum wage from $10 to $15, offers bonus after tax bill approval
10. Stifel Nicholas
Stifel Gives Staffers Special Tax-Gift Bonus
11. American Airlines
American Airlines Announces Employee Bonuses After Tax Reform Passage
12. Southwest Airlines
Southwest to pay bonuses after tax bill
13. Aflac
Aflac doubles down on employee benefits
14. BB&T Bank & Trust Co.
BB&T invests $152 million of tax reform benefits into associates and communities
15. Express Employment Professionals
Express Employment Professionals giving $2,000 bonuses, citing tax reform
16. Pioneer Credit Recovery
In the wake of tax reform bill, Pioneer Credit Recovery workers will receive $1K bonuses
17. Navient
Navient hand out bonuses, credit tax overhaul
18. Fidelity Bank
Fidelity Bank Announces Investment in Bankers and Communities
19. Jet Blue Airlines
All JetBlue Crewmembers to Receive $1,000 Following Tax Reform
20. U.S. Bancorp
U.S. Bank becomes latest bank to increase wages, hand out bonuses after tax reform
21. Zion’s Bancorp
Slew of regional banks latest to hike pay after tax reform
22. AccuWeather
AccuWeather Announces Special Year-End Bonus and Other Investments
23. Gate City Bank
In response to tax bill, Gate City Bank announces reinvestment plan
24. THIRTY companies in eastern Idaho
More than 30 Companies in Idaho Offering Employee Bonuses Due to Tax Reform Bill
25. Rush Enterprises
Rush Enterprises Inc. to provide $1,000 discretionary bonus to employees as a result of tax reform
26.Wal-Mart
Walmart to raise its starting wage to $11, give employees bonuses following tax bill passage
27. Fiat-Chrysler
Fiat Chrysler to Invest $1 Billion in Michigan Plant and Add 2,500 Workers
28. AAON
AAON Announces Tax Reform Bonus for Employees
29. AR-15 Gun Owners of America
American rifle group hands out bonuses, boosts workers’ pay after Trump’s tax bill
30. Advance Financial
Advance Financial offers initiative related to tax reform
31. Aflac
32. Amarillo National Bank
Amarillo firms vow to pass new tax savings on to employees
33. Ball Ventures
Ball Ventures announces bonuses for employees due to tax bill
34. Central Pacific Bank
Central Pacific Bank to give $1,000 bonuses, increase minimum wage
35. Comerica
36. Hawaii National Bank
Sixth Hawaii bank follows bonus and minimum wage trend
37. Nationwide
Nationwide gives big bonuses, credits tax reform
38. Nephron Pharmaceuticals
Republican tax cut leads Nephron Pharmaceuticals in S.C. to give raises to its employees
39. Pacific Power
Pacific Power says they will lower rates with tax cuts
40. PNC Financial
Here’s how PNC celebrates tax reform — cash, pension contributions for employees
41. Travelers
Travelers Cites US Tax Overhaul In Pledging $1,000 Worker Bonus
42. Visa
Tax reform prompts Visa to raise 401(k) match for employees
43. JP Morgan
JPMorgan to raise pay, hire staff in $20 billion investment push
44. Altria
Altria Group giving $3,000 bonuses with tax windfall
Additional List of Companies
