As a direct result of the passage of President Donald Trump’s tax reform plan, more than one million American workers employed by over 100 companies are set to receive a bonus, pay raise or retirement increase.
John Kartch, communications director for Americans for Tax Reform, has been compiling and publishing a growing list of firms that have committed to share with employees some of their savings associated with the lowered corporate tax rate in Trump’s plan.
The number of firms has risen quickly since Trump tweeted about the bonus trend on Jan. 3.
“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.” https://t.co/bmWrwWzxMR
— Donald J. Trump (@realDonaldTrump) January 4, 2018
The dollar amount of bonuses varies from company to company, with one firm awarding its employees $3000 bonuses, the Washington Examiner reported.
On Friday, IAT Insurance Group, a privately held company owned by the Kellogg group, announced that the firm will pay a $3000 bonus to approximately 700 non-executive employees on January 15, 2018. In a news release, the company said the payment of bonuses was in response to the newly passed tax reform bill.
IAT Insurance Group pledged “to reinvest tax savings into what makes IAT great, their employees,” the company told the Examiner.
CLICK HERE to see the full and fast-growing list of companies who have announced bonuses and incentives to their employees, in response to the tax reform bill’s passage.