With Home Depot and Starbucks moving to offer employees bonuses as a result of President Trump’s tax reform package, the total number of firms rewarding workers has reached 250, a jump of 525 percent in just two weeks.
The companies have credited the tax changes for plans to offer bonuses of up to $3,000, increases in retirement plans, wage hikes and even adoption benefits.
The tax watchdog group Americans for Tax Reform, headed by Grover Norquist, has been keeping the most updated list of companies offering benefits and today told Secrets that it had crossed the 250 mark.
What’s more, many more companies are offering employee benefits but are just now passing along their information to ATR’s list keeper, communications chief John Kartch, who is requesting them to his email address, JKartch@atr.org
Some examples he just added:
- Camp Construction Services of Houston, offering $500 tax reform bonuses. In a note to employees, CEO Roger C. Camp wrote, “Because of the reduction in corporate taxes we, as will all businesses, benefit from this tax cut. We believe that YOU are the reason for our success. And now that we will be giving less of our hard earned income to the federal government, we can share some of it with you. Please look for a $500 ‘tax cut’ bonus in your next payroll run.”
- Dynamic Fastener of Raytown, Mo., is paying employees $1,000 and hiring more employees.
- Iron Horse Energy Services Inc. of Eolia, Missouri, is providing new bonuses. In a news report, one employee said, “Thank you Mr Trump for being a businessman.”
- Rod’s Harvest Foods of St. Ignatius, Montana,” is giving pay raises and bonuses up to $500. Chief Rod Arlint told workers, “We are happy to share with our employees the anticipated tax saving for 2018 realized by the tax reform bill recently passed by the U.S. Congress and signed by President Trump. We are excited about the benefits it will provide for our country’s economy, our store, and our employees. As a result of the tax savings expected in 2018, we will be passing this savings on to our employees. We will be raising wages 3-5 percent and entry wage to $11 an hour (non-student). Also, please accept this bonus as a gesture of appreciation for your hard work and loyalty to Rod's Harvest Foods. You are our most valuable resource!”
Paul Bedard, the Washington Examiner's "Washington Secrets" columnist, can be contacted at firstname.lastname@example.org