Tax Reform – Companies Are Showing Approval and Optimism
American Center for Tax Reform has a continuously updating list of companies all across the spectrum that have been responding positively to the Tax Reform Act that Congress passed. Employees and communities are hopefully beginning to feel the trickle down effect as the companies make gestures and changes.
Reasons range from “strong confidence in the growing U.S. and global economy now that the Tax Bill has passed to “the new administration was committed to doing what it takes to get America’s economy back on track”, and others.
The list is long and getting longer with responses ranging from simple one time bonuses, to raise in hourly wages, to 401k distributions, to higher community grants, and more importantly addition of jobs and funding for future growth.
Bonuses are great but additional jobs, higher wages, and community involvement means even more for the future. Hopefully this isn’t just a flash in the pan but we can see a brighter future that helps reduce those who are unemployed or have given up seeking employment. Struggling communities need this input just to try to keep the wheels rolling and our people gainfully employed from “Mom and Pop” start-ups to huge entities.
We obviously haven’t made it through a tax season or two yet but it sure feels good that we see some businesses expressing hopefulness since the vision of the business world’s future has been so grim for so many years.
Of course, big Wall Street companies are worried since stocks are racing upwards. They may have a right to worry in the long-term since what goes up quickly does have a tendency to drop; but with more innovative ideas, more optimism of companies, and increased interest in entrepreneurship, it is possible that there will be a leveling off at a place comfortable for all.
Wall Street has had their way far too long in reacting at the shift of a breeze or whim of a big player while trying to manipulate the economies of the world. It’s time they took a more mature approach and were monitored to prevent overreaction and corruption if they can’t be responsible and reasonable.
Here are few of the more well-known companies and their actions:
American Airlines — $1,000 bonuses for every employee (excluding officers). The bonuses will total $130 million. AA had 127,600 employees as of Sept. 2017.
Apple (Cupertino, California) — $2,500 employee bonuses in the form of restricted stock units; $30 billion in additional capital expenditures over five years; 20,000 new employees will be hired; increased support of coding education and science, technology, engineering, arts, and math; increased support for U.S. manufacturing.
AT&T — $1,000 bonuses to 200,000 employees; $1 billion increase in capital expenditures.
AVANGRID (Orange, Connecticut) – the utility is passing savings from tax reform to customers.
BB&T – $1,200 bonuses for 27,000 employees; base wage will rise from $12 to $15 per hour; $100 million in charitable donations.
Boeing — $100 million in charitable donations; $100 million for workforce development; $100 million for infrastructure and facilities.
Capital One – Capitol One is raising the base wage to $15 per hour for U.S. employees.
Dyer Capital Management, Inc. (Marion, Massachusetts) – Base wage raised 3.5% to $22 per hour; hourly employees also received a special one-time bonus.
Fiat Chrysler — $2,000 bonuses for 60,000 employees; $1 billion investment in U.S. plant in Warren, Michigan; 2,500 new jobs.
Great Western Bancorp, Inc. – base wage raised to $15; $500 or wage increase for 70% of workforce; doubling of grants to community investment program.
Wal-Mart – Base wage increase for all hourly employees to $11; bonuses of up to $1,000; expanded maternity and parental leave; $5,000 for adoption expenses.
Of course, we are in a “show me” mode for future earnings and success. However, Democrats and liberals would have us panic and cry out “the sky is falling” even before we get outside. Many of the more liberal industry giants were the ones manipulating stocks and banks were creating ridiculous paper sales that made no sense. The near future is good but as always the proof is in the end product.
Trump is doing what he set out to do–consider the average wage earner citizens of the country first. That base elected someone who had no political background for a reason. So far he has yet to let his base down over most issues.
There has been progress but there are three years left, a lot of swamp to drain, and all of his efforts are constantly being hammered by globalists, a shadow government, and ridiculous drama from the D&L team.
I’m more surprised that all he has done and accomplished in his first year has shown improvement in such a short time given all the obstacles he has been facing – including his own tweets.