It is already clear that Trump’s tax bill will lead to significantly higher wages and growth. And a few corporations are already satisfying the GOP’s expectations and promising bonuses and reinvestments following implementation of the bill.
The New York Post reported that on Friday FedEx announced that it will spend more than $3.2 billion on wage increases, bonuses, pension funding and capital investment, taking advantage of the tax overhaul signed into law in December.
The Memphis, Tenn.-based company said it would invest $1.5 billion to significantly expand its hub in Indianapolis over the next seven years and modernize and enlarge its Memphis SuperHub.
The new tax code allows companies to immediately write off the full value of capital costs, which helps make projects more financially attractive, but that benefit starts to phase out in 2023. It also permanently lowers the corporate rate to 21 percent from 35 percent.
The announcement makes FedEx the latest US company to promise higher pay for workers, citing the tax cuts.
FedEx, which said the recent tax changes would likely boost economic growth and investment in the US, also said it would contribute $1.5 billion to an employee pension plan.
The company plans more than $200 million in higher compensation, about two-thirds of which will go to hourly employees with the remainder funding increases in performance-based incentive plans for salaried workers.”
Oh, my! How dare these companies to go against the liberal who predicted they would pocket those savings and not pass it on to their employees! I’m waiting for the ones who were bailed out by the US government to do this. Liberal Democrats have to be just fuming that taxpayer money is going to citizens of the United States. After all, this is money that they were wanting to give to the illegal immigrants and terrorist countries.
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Natalie D. is an American conservative writer who writes for Supreme Insider, Right Journalism, and Conservative US! Natalie has described herself as a polemicist who likes to “stir up the pot,” and does not “pretend to be impartial or balanced, as broadcasters do,” drawing criticism from the left, and sometimes from the right. As a passionate journalist, she works relentlessly to uncover the corruption happening in Washington .She is a “constitutional conservative”.