The Benefits of Tax Reform

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The Benefits of Tax Reform


Tax reform is already helping millions of Americans. Whether it is lower individual rates or lower rates for businesses – millions of people are benefiting through their annual tax returns, increased wages, bonuses, stock options, benefits, and lower utility bills. Read more below to see what people are doing and saying about the recently passed tax law. 

 

FedEx to give wage increase, bonuses to workers

“FedEx says it'll be giving wage increases, bonuses and make a voluntary $1.5 billion contribution to the company's pension plan, citing recent tax reform legislation.”

Home Depot (HD) announced on Thursday that it will pay its U.S. hourly workers a one-time bonus of up to $1,000 tied to President Trump's tax reform.

"This incremental investment in our associates was made possible by the new tax reform bill," Craig Menear, chairman and CEO of the company, said in a statement.

Verizon says many workers will receive shares of stock  

“Verizon employees (other than top management) will receive 50 shares of restricted stock, the price of which will be set on February 1.”

JPMorgan to raise pay, hire staff in $20 billion investment push

“JPMorgan will also increase small business lending by $4 billion and increase loans to customers seeking affordable homes by 25 percent to $50 billion.”

125,000 Disney employees to receive $1,000 cash bonus due to tax reform

"We are directing approximately $125 million to our cast members and employees across the country and making higher education more accessible with the launch of this new program," CEO Bob Iger said in a statement.

Apple CEO Tim Cook cites GOP tax reform as driver in $350B US investment

"There are two parts of tax bill, there's a corporate piece and an individual piece," Cook explained. "I do believe the corporate tax side will result in job creation and a faster growing economy."

Premier Tech. investing thanks to Trump tax cuts

“A Blackfoot company says it will use the GOP tax cuts to invest in technology and new employees in eastern Idaho.”

Walmart to raise its starting wage to $11, give some employees bonuses following tax bill passage

“Walmart's workers will soon reap the benefits of the recent tax law changes, as the world's largest private employer raises its starting wage, creates new benefits and distributes bonuses to eligible workers.”

Your paycheck may be going up soon because of tax cuts 

"Millions of working Americans should start seeing fatter paychecks as early as next month…”

Meet Eileen: Tax Reform Law is a Good Deal for Women

“This money will make a big difference for someone like Eileen.  She may use it toward her student loan balance, creating a retirement account, or buying airplane tickets to visit family.  The choice is up to her, but the bottom line is, there will be more money in her bank account. That’s a good deal for Eileen, and a good deal for women like her.”

AT&T, Boeing Announce New Investments After Historic Tax Reform Vote 

“This tax reform will drive economic growth and create good-paying jobs,” said AT&T chairman and CEO Randall Stephenson. “In fact, we will increase our U.S. investment and pay a special bonus to our U.S. employees."

Melaleuca to offer bonuses following tax plan

“Melaleuca CEO Frank VanderSloot said in a phone interview that his 2,000 workers will get a one-time bonus of $100 for every year they have worked at the company. On average, Melaleuca employees stay at the company eight years — which would result in an $800 bonus. The company also has 147 employees who have worked for VanderSloot for 20 years or more.”

UPDATE: More than 30 companies in east Idaho offering employee bonuses due to tax reform bill

“We’re going to have more money in our pocket and that means we can afford to give our employees more,” VanderSloot said.

VIDEO: Middle class Americans have their taxes filed under the new tax framework 

Utility customers could get breaks on electric, gas bills from federal tax reform
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