by Paul Bedard ~ Washington Examiner
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.
- 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 email@example.com