The GOP tax bill is continuing to inspire some serious generosity on the part of the corporations who are going to benefit from the huge decrease in the corporate tax rate.
AT&T was the first to kick off the festivities by telling 200,000 of its lower level employees that they would be receiving an extra $1,000 bonus in their paychecks for Christmas. From there, Wells Fargo, Third Fifth Bank, Comcast, and more joined the party and told their employees that they’d be receiving bonuses or even raised wages.
But the fun isn’t over just yet. As it turns out, even more businesses are throwing extra cash at their workers thanks to the extra money they’ll have as a result of the passage of the tax bill.
From the American Trucking Association to IBM, employees are about to be a bit more well off.
“Congress and the Administration have achieved critical reform that will grow the economy, raise wages for American workers and boost business investment and hiring in the United States. Business Roundtable has long advocated for corporate tax reform because it is good for all Americans.” – Jamie Dimon, Chairman and Chief Executive Officer of JPMorgan Chase & Co. and Chairman of Business Roundtable
“America’s small businesses are one step closer to the tax relief they deserve. Small business represents half the jobs and half the GDP, and starting next year they will be able to reinvest more of their money, grow, and create jobs.” – NFIB President and CEO Juanita Duggan
“America’s economic engine has been ignited,” said ATA President and CEO Chris Spear. “President Trump has said that ‘when trucks are moving, America is growing.’ With his signing of this bill into law, there will be more trucks on our roads, making the deliveries fueled by an expanding economy.” – ATA President and CEO Chris Spear
“On tax reform, the President and congressional leadership have decided to go big and bold, and IBM welcomes today’s proposal. Tax reform and tax cuts will spur economic growth and jobs, and will allow American companies to more easily bring profits from foreign operations home to benefit Americans…Congress has a once-in-a-generation opportunity to act. IBM supports the President’s plan and will spare no effort to support its swift enactment into law.”
– Christopher A. Padilla, Vice President, IBM Government and Regulatory Affairs
“The MPAA is encouraged by the tax reform framework released today by the Trump Administration and Congressional leaders. The U.S. film and television industry supports two million American jobs and 88,000 small businesses across all 50 states. Meaningful tax reform, as reflected in this framework, will promote our nation’s global competitiveness and encourage more domestic production and jobs in American industries, including film and television…We look forward to working with both the Trump Administration and Congress as the process moves forward to rebuild an American tax system that creates U.S. jobs and drives economic growth.” – Ambassador Charles Rivkin, CEO of the Motion Picture Association of America (MPAA)
And the Democrats told us we were all going to die…