On Friday, more lucky employees found out that their company was joining the tax cut benefits boom. Fed Ex declared that it would be making a huge $3.2 billion dollar investment in the United States, with wage increases, employee bonuses and pensions, and more job creation. And they gave all the credit to the Trump Republican tax cut.
From Biz Pac Review:
Over $200 million will go directly to workers’ wages, FedEx said in a statement. Approximately two-thirds of that sum will be devoted to hourly employees, while the remainder will boost incentives for the company’s salaried personnel.
FedEx is following that up with $1.5 billion for its pension plan, a voluntary contribution the company said will “ensure it remains one of the best funded retirement programs in the country.”
The last $1.5 billion will serve as capital to expand the FedEx Express Indianapolis hub over the course of the next seven years–leading to jobs and community growth. The Memphis SuperHub will also be expanded, with details of the plan set to be announced in the spring.
In a statement, FedEx said that they thought that tax reform would “likely increase the GDP and investment in the United States.”
That fact is already clear from the numerous companies that made similar statements to FedEx since tax reform passed.
According to Americans for Tax Reform, over 3 million Americans at 265 companies have received bonuses, wage increases, pension benefits, stock options and donations. Not to mention companies starting new businesses and creating more jobs because of the tax windfall.
Home Depot had joined the herd on Thursday saying that it would be giving all of its hourly associates in the United States a $1,000 cash bonus. Earlier in the month, one of the biggest employers in the country, Walmart, announced they were raising their base wage to $11, along with expanded maternity and parental leave benefits and a $1,00 cash bonus.
Even when President Trump went overseas to Davos, he was met with open arms by CEOs of multiple countries, each of whom in turn said that their companies were going to build more in the United States and create jobs for Americans because of the favorable business climate which he had created.
Unemployment is also at a historic low, and an all-time low for black and Hispanic people.
It’s difficult to fight such success.
What has been the response to all this good news for the American people?
House Minority Leader Nancy Pelosi (D-CA) and former DNC chair Rep. Debbie Wasserman-Schultz (D-FL) have belittled the bonuses and higher wages, calling them “crumbs,” showing how truly elitist they are.
Obviously, a $1000 bonus is not “crumbs” to most normal people in the country.
But, if they’re “crumbs,” consider this. Democrats wouldn’t even have afforded you those crumbs. They would in fact have worked to tax you more and take more of your money.
So thanks to the GOP for all the good news for Americans.
[Note: This post was written by Nick Arama]