Tax Cuts and Jobs Act Increases Wages and Bonuses for American Workers

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Washington, January 2, 2018 | comments

Despite the false rhetoric from the Left, millions of hardworking people are already seeing benefits of the Tax Cuts and Jobs Act. Check out some of the companies that have already taken steps to increase wages and bonuses.

Aflac: $250 million boost in U.S. investments and increased 401(k) benefits for workers, including a one-time contribution of $500 to every employee’s retirement savings account.

American Savings Bank: $1,000 bonus to 1,150 employees, nearly its entire workforce, and increased minimum wage to $15.15 per hour, up from $12.21 today.

Aquesta Financial Holdings: $1,000 bonus to all of its employees, and increased minimum wage to $15 per hour.

Associated Bank: $500 bonus to nearly all employees and increased minimum wage to $15 per hour, up from $10 today.

AT&T: $1,000 bonus to its 200,000 U.S. workers and $1 billion boost in U.S. investments.

Bank of America: $1,000 bonus for approximately 145,000 U.S. employees.

Bank of Hawaii: $1,000 bonus for its 2,074 employees, or 95 percent of its workforce, and increased minimum wage to $15 per hour, up from $12 today.

BB&T Corp.: $1,200 bonus for almost three-fourths of its associates, or 27,000 employees, and increased minimum wage to $15 per hour, up from $12 today.

Boeing: $300 million boost in investments to employee gift-match programs, workforce development, and workplace improvements.

Central Pacific Bank: $1,000 bonus all of its 850 non-executive level employees and increased minimum wage to $15.25 per hour, up from $12 today.

Comcast NBCUniversal: $1,000 bonus for more than 100,000 employees.

Deleware Supermarkets Inc.: $150 bonus to 1,000 non-management employees and $150,000 increased investment in employee training and development programs.

Express Employment Prc: $2,000 bonus to all non-executive level employees at the company’s Oklahoma City headquarters.

Fifth Third Bancorp: $1,000 for its 13,500 employees and raised minimum wage to $15 per hour, which alone will increase paychecks for nearly 3,000 workers.

First Hawaiian Bank: $1,500 bonus for its 2,264 employees and increased minimum wage to $15 per hour.

First Horizon National Corp.: $1,000 bonus to employees who do not participate in company-sponsored bonus plans.

Kansas City Southern: $1,000 bonus to employees of its subsidiaries in the U.S. and Mexico.

Melaleuca: $100 bonus for every year an employee has worked at the company—an average of $800 for each of its 2,000 workers.

National Bank Holdings Corp.: $1,000 bonus to all non-commissioned associates who earn a base salary under $50,000.

Nelnet: $1,000 bonus for nearly all of its 4,100 employees.

Nephron Parmaceuticals: Five percent wage increase for its 640 employees.

Nexus: 5 percent wage increase and plans to hire 200 new workers in 2018.

OceanFirst Bank: $15 minimum wage raise, up from $13.60 today, which will affect at least 166 employees.

PNC Bank: $1,000 bonus to 47,500 employees and $1,500 increase to workers' existing pension accounts.

Pinnacle Bank: $1,000 bonus for all of its full-time employees in Nebraska, Kansas, and Missouri.

Pioneer Credit Recovery: $1,000 bonus to its employees.

Rush Enterprises Inc.: $1,000 discretionary bonus to its 6,600 U.S. employees.

Sinclair Broadcast: $1,000 bonus to nearly 9,000 employees.

SunTrust: $15 minimum wage raise, $50 million increase in community grants, a one percent 401(k) contribution for all employees, and more.

Turning Point Brands, Inc.: $1,000 bonus to 107 employees.

Washington Federal, Inc.: 5 percent wage increase for employees earning less than $100,000 per year and increased investments in technology infrastructure and community projects.

Wells Fargo: $15 minimum wage raise, up from $13.50 today, and increased charitable giving by approximately 40 percent to $400 million.

Western Alliance: 7.5 percent wage increase for the lowest-paid 50 percent of its employees.

Nationwide will provide bonuses of $1,000 and increase 401(k) matching from 50 percent on the first 6 percent of employee contribution to 50 percent on the first 7 percent of employee contribution.
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