A vast number of major corporations are celebrating President Trump’s tax reform bill passing Congress — by giving bonuses, pay bumps, and other new perks to their workers.
Yesterday, AT&T publicly announced they would give $1,000 year-end bonuses to more than 200,000 workers. They also announced they would invest $1 billion in new infrastructure projects.
These announcements were followed soon after by airplane maker Boeing, the largest manufacturer in the United States, who revealed they would spend an additional $300 million on their employees. Approximately $100 million would go to strengthening their charitable giving matching, $100 million would come through new workforce development training for their workers, and $100 million would come in the form of rebuilding their facilities.
Not to be left out, cable provider Comcast —the parent company of MSNBC — also announced they would give $1,000 bonuses to 100,000 American employees. Shipping giant FedEx publically declared they would ramp up hiring, buy new equipment, and invest heavily in technology, though they didn’t specify a dollar figure.
And finally, two banking giants, Wells Fargo and Ohio-based Fifth Third Bancorp, announced they would give all low- and middle-level employees bonuses, and raise their employee minimum wage to $15. Their new $15 minimum wage is notable because it’s the exact number that liberals like Sen. Bernie Sanders (I-Vt.) want as a new U.S. minimum wage.
All six companies specifically cited the passage of the tax reform bill as the reason they were ready to invest in American industry and their workers.
Polling suggests the tax reform bill remains controversial —with not a single Democrat in either house voting for it — but if these early victories are any indication, it’s clear that Trump’s economic boom could still be just beginning.
AAN Staff
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