Democrats in Washington spent months making dire predictions about the Armageddon that would be unleashed once the Republican tax cut plan was passed. But after multiple companies announced massive investments in their U.S. workers as a direct result of yesterday’s passage of the tax plan, those dishonest Democrat talking points are already being exposed as they lies they truly were.
In case you missed it…
AT&T will give $1,000 bonuses to over 200,000 employees and invest $1 billion in capital expenditures. “Telecom giant AT&T was quick to respond to news of U.S. tax reform, announcing it would give some employees bonuses once the legislation is signed into law. AT&T said in a press release Wednesday that it would give more than 200,000 of its U.S. workers who are union members a special bonus of $1,000. The company also increased its capital expenditures budget by $1 billion in the U.S.” (CNBC)
Comcast will give $1,000 bonuses to over 100,000 employees and invest $50 billion in infrastructure. “Based on the passage of tax reform and the FCC’s action on broadband, Brian L. Roberts, Chairman and CEO of Comcast NBCUniversal, announced that the Company would award special $1,000 bonuses to more than one hundred thousand eligible frontline and non-executive employees,” the company said in a statement. Roberts also announced that Comcast would invest $50 billion over the next five years in infrastructure towards its “broadband plant and capacity, and our television, film and theme park offerings.” (The Hill)
Wells Fargo will increase its minimum wage to $15 an hour and make $400 million in charitable donations. “Wells Fargo, meanwhile, also said it would be boosting its minimum wage for employees to $15 an hour, which was prompted by the tax plan. The San Francisco-based bank also said it would target $400 million in donations to community and nonprofit organizations next year.” (CNBC)
Fifth Third Bancorp will pay nearly 3,000 employees a $1,000 bonus and raise its minimum wage to $15 an hour. “Fifth Third Bancorp will pay more than 13,500 employees a bonus and raise the minimum wage of its workforce to $15 an hour after the passage of the Republican tax plan that will cut the bank’s corporate tax rate.” (CNBC)
Boeing will invest $300 million in employee-related and charitable investments. “Boeing [NYSE: BA] Chairman, President and Chief Executive Officer Dennis Muilenburg praised the tax bill passed by Congress and about to be signed into law as a critical driver of business, economic growth and innovation for the United States and for Boeing… While Boeing is still studying all of the provisions of the new legislation, Muilenburg announced immediate commitments for an additional $300 million in investments that will move forward as a result of the new tax law.” (Boeing Press Release)
And analysts predict that this is just the start, with many more companies expected to increase wages and invest in their workforces. “Expect a stampede of companies handing out bonuses, raising pay, spending on capital projects and giving to charities, with the windfall from the massive corporate tax cuts passed Wednesday.” (CNBC)