Companies Announce New Investments Following Tax Reform Passage

By Mike Bishop (R-MI, 8th)



Washington, D.C. - December 21, 2017 - (The Ponder News) -- Less than 24 hours following House and Senate passage of historic tax reform legislation, companies across America announced key investments in our nation’s workforce.

AT&T announced that as a direct result of tax reform, more than 200,000 U.S. employees will receive a $1,000 bonus. “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."

Boeing CEO Dennis Muilenburg praised the tax bill as a critical driver of business, economic growth and innovation for the United States and Boeing. Muilenburg announced a $300 million investment to support corporate charitable giving, workforce development and infrastructure enhancements for Boeing employees.

Prompted by the tax plan, Wells Fargo also said it would be raising its minimum wage for employees to $15 an hour. The bank added that it would target $400 million in donations to community and nonprofit organizations next year.

Fifth Third Bancorp is also taking action as a result of the tax bill. They will pay more than 13,500 employees a bonus and raise the minimum wage for their workforce to $15. Senior managers and top executives are excluded from the special payments. "It is good for our communities, employees and Fifth Third Bank," said CEO Greg Carmichael in a statement.

According to Comcast chairman and CEO Brian Roberts, based on the passage of tax reform, the company will provide a $1,000 bonus to more than 100,000 non-executive employees, in addition to an infrastructure investment in excess of $50 billion over the next five years. As a result of these investments, Comcast estimates they will add thousands of new direct and indirect jobs.

Congressman Bishop said, “By passing this comprehensive tax reform package, we've delivered on our promise to provide relief for hardworking families at every income level, and this is just the beginning. This plan will deliver real changes to the lives of American families across the nation in the form of more jobs and bigger paychecks.”

To learn more Click HERE


See more headlines at The Ponder News Web Site