WASHINGTON SECRETS
Boom: 40 companies give Trump tax reform bonuses, up to $2,000
by Paul Bedard, published on The Washington Examiner, on January 3, 2018
Some 40 U.S. companies have responded to President Trump’s tax cut and reform victory in Congress last year by handing out bonuses up to $2,000, increases in 401k matches and spending on charity, a much higher number than previously known.
According to the list from Americans for Tax Reform, “Thanks to tax cuts, growing list of companies announcing bonuses, wage hikes, charitable donations.”
ATR’s John Kartch pulled the list together, and is seeking more.
Only two media companies made the list, Sinclair and MSNBC/Comcast.
Some highlights:
- Aflac – increase 401(k) match from 50% to 100% on the first 4% of compensation plus one-time $500 contribution to every employee’s 401(k); $250 million increase in overall U.S. investment.
- BB&T – $1,200 bonuses for 27,000 employees; base wage will rise from $12 to $15 per hour; $100 million in charitable donations.
- Comcast — $1,000 bonuses to 100,000 employees; at least $50 billion investment in infrastructure in next five years.
- Express Employment Professionals — $2,000 bonuses to more than 200 non-executive employees.
- Gate City Bank — $1,000 hand-delivered bonus checks to 538 non-management personnel; $500,000 higher charitable giving; $500,000 worth of free home appraisals.
- Navient – 98% of Navient’s 6,700 employees will receive a $1,000 bonus (approx. 6,566 bonus-eligible employees).
- Regions Financial Corporation – base wage increase to $15 per hour; $40 million in charitable donations; $100 million in capital expenditures.
- Southwest Airlines — $1,000 bonuses for all 55,000 employees; $5 million additional charitable donations.
- U.S. Bancorp – $1,000 bonuses for 60,000 employees; base wage hike to $15 per hour; $150 million charitable contribution.
Paul Bedard, the Washington Examiner’s “Washington Secrets” columnist, can be contacted at pbedard@washingtonexaminer.com
Thanks to Tax Cuts, Growing List of Companies Announcing Bonuses, Wage Hikes, Charitable Donations
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Thanks to Tax Cuts, Growing List of Companies Announcing Bonuses, Wage Hikes, Charitable Donations
I see this bonus situation as a very small drop in the bucket. When you consider how much of humanities energy has been harvested unfairly over many years. But maybe this is a crack in the dam (it’s a start)that is beginning to crumble before our very eyes. These bonus amount are nothing compared (crumbs on the floor) to what the upper management is taking in. The hierarchy must stop. We are all equal.
Tallison,
This has very little to do with purported tax relief and purported generosity from the Corporations to their worker bees… and everything to do with EO’s and positioning on silent agreements to begin restitution and “cut deals” as it were in the bigger scheme of what is unfolding. ; -) Its a big dot, which is why I posted it. interesting to pick a name and follow the rabbit trail through their extra curricular activities…
“5) to have materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of:” hint
Aha! Now I get it.
This is as exciting as it gets!!!