Real Time Boom: 100+ Companies Pay ‘Trump Tax Cuts’ Bonuses, Pay Hikes

U.S. companies have responded to President Trump’s Tax Cut and Reform passed on December 20, 2017 and signed into law by announcing bonuses, pay hikes and increased benefits for employees. Even the Trump-Hating media like CNN and NBC have been impacted positively by the historic tax cuts.

On Friday after Americans for Tax Reform (ATR) published on its website a list of 40 companies dolling out bonuses of up to $2000, pay hikes, increases in 401(k) matching contributions and charitable donations, the number has since risen to over 100 companies in less than 24 hours.

The stock continues to hit record highs with President Trump’s pro-business policies and Tax Cuts. Credit: FOX Business

The growing list has among them AT&T, Comcast, Boeing, Nationwide Insurance, American Airlines and Jordan Winery.

“Thanks to tax cuts, growing list of companies announcing bonuses, wage hikes, charitable donations,” stated Americans for Tax Reform (ATR) on its website.

“American companies are raising wages, paying bonuses, expanding operations and increasing 401(k) matching contributions,” ATR added, saying that it took “just five days into 2018” for the Tax Cuts and Jobs Act to have “changed the nation for the better.”

President Trump touting the success of his landmark legislative victory on tax reform. Credit: Twitter

Some companies put out statements and Press Releases to make the announcements on the impact of President Trump’s landmark Tax Cuts and Jobs Act.

In a Press Release announcing a $1,000 bonus and wage increase to its employees, the Sinclair Broadcast Group said they are “excited about the benefits” the tax cuts “will provide for our country’s economy, our Company and our employees.”

American flagship carrier American Airlines has announced a $1,000 bonuses for all its employees after President Trump’s landmark Tax Cut and Jobs Act in December 2017. Credit: American Airlines

American Airlines issued a Press Release saying that the airline “will distribute $1,000 to each team members (excluding Officers)” a distribution it says “will total approximately $130 million and will be made in the first quarter of 2018.”

“Our announcement was directly related to the passage of tax reform,” said Wells Fargo senior Vice President, Arati Sontakay Randolph.

President Trump after signing the landmark Tax Cut And Jobs Act in December 2017.

ATR President Grover Norquist whose organization compiled the list praised the Trump Tax Cut bonuses saying they will nullify the Democrats’ attacks on President Trump and the Republicans tax package.

“Every announcement of another company raising wages, hiring, paying bonuses and investing in America is another nail in the coffin of the Democrat attacks on the Republican tax cut.

“This drip, drip, drip is added to the daily reports on stock market gains, the bigger checks in pay envelopes and the kump in your 401K and IRA,” he added.

Companies started announcing Trump Tax Cuts bonuses in December 2017. Credit: Twitter

Below is a list of some companies – both small and big corporations – that have announced their intentions to pay out bonuses and increase wages to their employees after the successful passage of the tax reform.

Comcast (Fox News company)— $1,000 bonuses to 100,000 employees; at least $50 billion investment in infrastructure in next five years.
American Airlines — $1,000 bonuses for 127,600 employees (excluding officers) that will total aprox $130 million as of Sept. 2017.
Bank of America — $1,000 bonuses to 145,000 U.S. employees
Boeing — $100 million in charitable donations; $100 million for workforce development; $100 million for infrastructure and facilities
Aflac – increase 401(k) 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.
Southwest Airlines — $1,000 bonuses for all 55,000 employees; $5 million additional charitable donations.
S. Bancorp – $1,000 bonuses for 60,000 employees; base wage hike to $15 per hour; $150 million charitable contribution.
JetBlue – $1,000 bonus for all 21,000 employees.
Nationwide Insurance – $1,000 bonuses to 29,000 employees; increased 401(k) matching contributions for 33,000 employees.
South Point Hotel, Casino & Spa – doubling of bonuses for 2,300 employees
Jordan Winery – $1,000 bonuses for each of its 85 employees.
Sinclair Broadcasting Group – $1,000 bonuses for 9,000 employees
BB&T – $1,200 bonuses for 27,000 employees; base wage will rise from $12 to $15 per hour; $100 million in charitable donations.
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.
Regions Financial Corporation – base wage increase to $15 per hour; $40 million in charitable donations; $100 million in capital expenditures.