WASHINGTON – Millions of Americans are set to see an increase in their paychecks thanks to the passage of the GOP tax relief plan. As the new, lower tax rates take effect and hundreds of companies continue to announce employee pay increases and bonuses, more and more Americans will be receiving a well-deserved raise.
As American families anticipate the boost to their income, businesses continue to announce new investments in their workforces in the form of bonuses, pay raises and boosts to retirement benefits. Just today, Visa announced, in response to the GOP tax relief plan, it would increase its employee 401(k) match program, providing a boost to employees’ retirement plans. And Darden Restaurants, parent company of Olive Garden and LongHorn Steakhouse, is also pledging to spend $20 million on its workers in response to the passage of the law.
The historic and far-reaching success of the tax relief plan is a disaster for Senate Democrats who have already promised to make their opposition to tax cuts a campaign issue, and highlights the desperate and misleading rhetoric Democrats deployed in their failed attempt to deny hardworking Americans the raise they deserved.
“Senate Democrats’ plan to run on their opposition to middle-class tax cuts in 2018 is looking worse by the day as families across the country are seeing direct economic benefits from the Republican tax relief plan,” said NRSC Communications Director Katie Martin. “If Democrats truly plan on positioning themselves as the party of higher taxes for this year’s election, they’re in for a rude awakening come November.”