Received Dec. 22
After weeks of reading Post Register editorials and opinions warning us all about the dire consequences of passing tax reform, we finally get a different perspective.
I just read that, shortly after the GOP-led Congress approved the tax reform bill, some of America’s biggest companies are launching new initiatives to benefit employees and all Americans. After the vote was final, AT&T announced that more than 200,000 employees will receive a $1,000 bonus and it will invest $1 billion more than planned in the U.S. in 2018.
Boeing announced $300 million in new investments after the bill passed, including $100 million in corporate giving, $100 million in workforce development and $100 million in workplace enhancement. Comcast will award $1,000 bonuses to more than 100,000 non-executive employees and will spend more than $50 billion in the next five years on infrastructure investments that are expected to create “thousands of new direct and indirect jobs.” Cincinnati-based banking corporation Fifth Third Bancorp said it would raise the minimum hourly wage for all employees to $15 per hour and dispense $1,000 bonuses to more than 13,500 workers. The company says tax reform was directly responsible for the initiatives. Wells Fargo & Company said it would raise the minimum wage for its team members to $15 per hour and earmark $400 million for philanthropic initiatives in 2018. Some $100 million of that total will be committed to boosting small businesses, while $75 million will support neighborhood revitalization efforts. Wow.
(Word count: 243)
CRAIG L. JACOBSON