About 1 millions American employees are set to receive up to $3,000 in bonuses in light of President Donald Trump’s tax cut, according to an analysis done by Americans for Tax Reform.
Various businesses across the country announced special bonuses in light of Trump’s Tax Cuts and Jobs Act, ATR reported Friday. The Tax Cuts and Jobs Act slashed the corporate tax rate to 21 percent, prompting a slew of businesses to announce their efforts to invest in American workers.
Companies like AT&T and AccuWeather announced to their employees that they would be receiving special bonuses due to the new tax act. About 200,000 employees with AT&T received $1,000 bonus checks, while every employee with AccuWeather got a year-end bonus.
“Congress, working closely with the President, took a monumental step to bring taxes paid by U.S. businesses in line with the rest of the industrialized world. Tax reform will drive economic growth and create good-paying jobs. In fact, we will increase our U.S. investment and pay a special bonus to our U.S. employees,” Chairman and CEO Randall Stephenson said in a statement.
Other companies have also announced similar actions: American Airlines is set to give their employees $1,000 bonuses while 60 employees at American Bank are about to get $1,000 bonuses as well. Boeing plans to give $100 million in charitable donations and JetBlue plans $1,000 bonuses for their 21,000