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On December 22, 2017, @POTUS signed the Tax Cuts and Jobs Act. It cut individual income tax rates and doubles the standard deduction! Furthermore, it cut the corporate tax rate from 35% to 21% beginning in 2018, which allowed reinvestment in Employees & Communites!
Here's how:
Here's how:
AFLAC
- Increase 401(k) match from 50% to 100% of first 4% of employee contribution
- $500 one-time contribution to every employee’s 401(k) plan
- Offer free hospital and accident insurance products
- Increase US investment by $250 million over 3 - 5 years money.cnn.com/2018/01/08/new…
- Increase 401(k) match from 50% to 100% of first 4% of employee contribution
- $500 one-time contribution to every employee’s 401(k) plan
- Offer free hospital and accident insurance products
- Increase US investment by $250 million over 3 - 5 years money.cnn.com/2018/01/08/new…
Alaska Air
- $1,000 bonus for 23,000 employees and $118 million in incentive bonuses
newsroom.alaskaair.com/2018-01-26-Ala…
- $1,000 bonus for 23,000 employees and $118 million in incentive bonuses
newsroom.alaskaair.com/2018-01-26-Ala…
American Airlines
- $1,000 bonus to all team members” (excluding officers) at “mainline and wholly owned carriers” first quarter of 2018″
washingtonexaminer.com/american-airli…
- $1,000 bonus to all team members” (excluding officers) at “mainline and wholly owned carriers” first quarter of 2018″
washingtonexaminer.com/american-airli…
Altria Group
- One-time $3,000 bonus to 7,900 non-executive employees
- donate $35 million over next three years to philanthropy
businessinsider.com/ap-altria-grou…
- One-time $3,000 bonus to 7,900 non-executive employees
- donate $35 million over next three years to philanthropy
businessinsider.com/ap-altria-grou…
Anthem
- Contribute $1,000 to the 401(k) accounts for each of its more than 58,000 associates and recent retirees
ir.antheminc.com/news-releases/…
- Contribute $1,000 to the 401(k) accounts for each of its more than 58,000 associates and recent retirees
ir.antheminc.com/news-releases/…
AT&T
- $1,000 bonus to more than 200,000 U.S. employees
- invest additional $1 billion in the U.S. in 2018
theepochtimes.com/att-celebrates…
- $1,000 bonus to more than 200,000 U.S. employees
- invest additional $1 billion in the U.S. in 2018
theepochtimes.com/att-celebrates…
Bank Of America Corporation
- $20/hr minimum wage increase
- One-time $1,000 bonus for U.S. employees earning up to $150,000 per year – about 145,000 teammates
cnbc.com/2017/12/22/ban…
nytimes.com/2019/04/09/bus…
- $20/hr minimum wage increase
- One-time $1,000 bonus for U.S. employees earning up to $150,000 per year – about 145,000 teammates
cnbc.com/2017/12/22/ban…
nytimes.com/2019/04/09/bus…
BB&T
- One-time $1,200 bonus for about 27,000 employees
- Raise minimum wage from $12/hour to $15/hour
- Donate $100 million to philanthropic fund
bbt.mediaroom.com/2017-12-22-BB-…
- One-time $1,200 bonus for about 27,000 employees
- Raise minimum wage from $12/hour to $15/hour
- Donate $100 million to philanthropic fund
bbt.mediaroom.com/2017-12-22-BB-…
BNY Mellon
- $15/hour minimum wage bizjournals.com/newyork/news/2…
- $15/hour minimum wage bizjournals.com/newyork/news/2…
Boeing
- $300 million committed to charitable giving,
workforce development, and workplace facility enhancements
boeing.mediaroom.com/2017-12-20-Boe…
- $300 million committed to charitable giving,
workforce development, and workplace facility enhancements
boeing.mediaroom.com/2017-12-20-Boe…
Charles Schwab
- $1,000 bonus to around 9,000 non-executive employees
businesswire.com/news/home/2018…
- $1,000 bonus to around 9,000 non-executive employees
businesswire.com/news/home/2018…
Chipotle
- One-time $1,000 bonus to qualified employees
- One-time stock grant to qualified employees
- additional paid parental leave
- additional insurance coverage for hourly managers
ir.chipotle.com/news-releases?…
- One-time $1,000 bonus to qualified employees
- One-time stock grant to qualified employees
- additional paid parental leave
- additional insurance coverage for hourly managers
ir.chipotle.com/news-releases?…
CIGNA
- Raise minimum wage to $16/hour
- Additional $15 million in salary raises mostly for front line employees
- Additional $30 million to 401(k) matching
- invest in CIGNA Foundation
cigna.com/newsroom/news-…
- Raise minimum wage to $16/hour
- Additional $15 million in salary raises mostly for front line employees
- Additional $30 million to 401(k) matching
- invest in CIGNA Foundation
cigna.com/newsroom/news-…
Citizen’s Financial Group
- One-time $1,000 bonus to around 12,500 employees
newbostonpost.com/2018/01/03/tru…
- One-time $1,000 bonus to around 12,500 employees
newbostonpost.com/2018/01/03/tru…
Comcast
- 1,000 bonuses for more than 100,000 workers
- hire thousands more employees
- invest over $50 billion in infrastructure
sandiegouniontribune.com/opinion/the-co…
- 1,000 bonuses for more than 100,000 workers
- hire thousands more employees
- invest over $50 billion in infrastructure
sandiegouniontribune.com/opinion/the-co…
Comerica
- One-time $1,000 bonus to 4,500 non-officer employees
- Raise minimum wage to $15/hour
prnewswire.com/news-releases/…
- One-time $1,000 bonus to 4,500 non-officer employees
- Raise minimum wage to $15/hour
prnewswire.com/news-releases/…
CVS Health
- Increase minimum wage to $11/hour
- Invest $425 million annually in wages and employee benefits
fox61.com/2018/02/09/cvs…
- Increase minimum wage to $11/hour
- Invest $425 million annually in wages and employee benefits
fox61.com/2018/02/09/cvs…
Discover
- One-time $1,000 bonus to more than 15,000 non-executive employees
businesswire.com/news/home/2018…
- One-time $1,000 bonus to more than 15,000 non-executive employees
businesswire.com/news/home/2018…
Express Scripts
- Bonuses of $500 to $2,000 per employee based on tenure - for $20 million total
- $30 million to employee education fund and philanthropy
prnewswire.com/news-releases/…
- Bonuses of $500 to $2,000 per employee based on tenure - for $20 million total
- $30 million to employee education fund and philanthropy
prnewswire.com/news-releases/…
FedEx
- Invest over $200 million in pay raises, about two-thirds of which will go to hourly team members
- Contribute $1.5 billion to pension plans
about.van.fedex.com/newsroom/fedex…
- Invest over $200 million in pay raises, about two-thirds of which will go to hourly team members
- Contribute $1.5 billion to pension plans
about.van.fedex.com/newsroom/fedex…
Fifth Third
- One-time $1,000 bonus to 13,500 employees
- Raise minimum wage to $15/hour
cnbc.com/2017/12/20/fif…
- One-time $1,000 bonus to 13,500 employees
- Raise minimum wage to $15/hour
cnbc.com/2017/12/20/fif…
Honeywell
- Increase 401(k) match to maximum 7% in the U.S.Canada and Puerto Rico.
freedompartners.org/latest-news/pr…
- Increase 401(k) match to maximum 7% in the U.S.Canada and Puerto Rico.
freedompartners.org/latest-news/pr…
Humana
- Increase minimum wage to $15/hour
- Performance-based incentive program
courier-journal.com/story/money/co…
- Increase minimum wage to $15/hour
- Performance-based incentive program
courier-journal.com/story/money/co…
J.M. Smucker
- One-time $1,000 bonus to nearly 5,000 employees
- $20 million to employee pension plan
- $1 million to charity
ohio.com/akron/business…
- One-time $1,000 bonus to nearly 5,000 employees
- $20 million to employee pension plan
- $1 million to charity
ohio.com/akron/business…
JP Morgan
- Hire 4,000 employees
- Open up to 400 new Chase branches
- Increase minimum wage to $15 to $18/hour for 22,000 employees
jpmorganchase.com/corporate/news…
- Hire 4,000 employees
- Open up to 400 new Chase branches
- Increase minimum wage to $15 to $18/hour for 22,000 employees
jpmorganchase.com/corporate/news…
Kroger
- Giving an addition $130M per year to expand employee benefits package
- Education-assistance perk, worth up to $21,000, for any employee with more than six months on the job.
wcpo.com/news/insider/h…
- Giving an addition $130M per year to expand employee benefits package
- Education-assistance perk, worth up to $21,000, for any employee with more than six months on the job.
wcpo.com/news/insider/h…
Lowe’s
- Up to $1,000 bonus to more than 260,000 employees
- Expand maternity and parental leave benefits
cnbc.com/2018/01/31/low…
- Up to $1,000 bonus to more than 260,000 employees
- Expand maternity and parental leave benefits
cnbc.com/2018/01/31/low…
Marriott International
- Employees to receive $140M thru an additional one-time contribution to retirement savings plans, structured as a $5-to-$1 company match of up to $1,000.
bizjournals.com/washington/new…
- Employees to receive $140M thru an additional one-time contribution to retirement savings plans, structured as a $5-to-$1 company match of up to $1,000.
bizjournals.com/washington/new…
Marsh & Mclennan
- One time $1,000 bonus to employees earning $55,000/year or less
- U.S. employees earning below $16/hour to receive a pay raise to $16/hour
cnbc.com/2018/01/26/us-…
- One time $1,000 bonus to employees earning $55,000/year or less
- U.S. employees earning below $16/hour to receive a pay raise to $16/hour
cnbc.com/2018/01/26/us-…
MetLife
- Increase minimum wage to $15/hour
- Increase life insurance benefits
- Increase 401(k) matching
- Expand company-paid legal services
washingtonexaminer.com/metlife-boosts…
- Increase minimum wage to $15/hour
- Increase life insurance benefits
- Increase 401(k) matching
- Expand company-paid legal services
washingtonexaminer.com/metlife-boosts…
M&T Bank
- Increase minimum wage to $14 to $16/hour, depending on geography.
bizjournals.com/buffalo/news/2…
- Increase minimum wage to $14 to $16/hour, depending on geography.
bizjournals.com/buffalo/news/2…
Northern Trust
- Award employees one week’s base salary as a one time bonus
chicagobusiness.com/article/201801…
- Award employees one week’s base salary as a one time bonus
chicagobusiness.com/article/201801…
PNC Financial
- $1,000 bonuses for about 47,500 employees
- Raise minimum wage to $15/hour
wtae.com/article/pnc-em…
- $1,000 bonuses for about 47,500 employees
- Raise minimum wage to $15/hour
wtae.com/article/pnc-em…
Regions Financial
- Increase minimum wage to $15/hour - affecting around 25% of workforce
- Contribute $40 million to foundation
- Increase cap budget by $100 million for 2018
al.com/business/2018/…
- Increase minimum wage to $15/hour - affecting around 25% of workforce
- Contribute $40 million to foundation
- Increase cap budget by $100 million for 2018
al.com/business/2018/…
Southwest
- $1,000 cash bonus on 1/8/18 to all full-time and part-time employees
- $5 million in chartible giving
investors.southwest.com/news-and-event…
- $1,000 cash bonus on 1/8/18 to all full-time and part-time employees
- $5 million in chartible giving
investors.southwest.com/news-and-event…
Travelers
- $1,000 bonus to 14,000 employees with base salary less than $$75,000
- Increase minimum wage to $15/hour
americansforprosperity.org/american-pay-r…
- $1,000 bonus to 14,000 employees with base salary less than $$75,000
- Increase minimum wage to $15/hour
americansforprosperity.org/american-pay-r…
Tyson Foods
- One-time $1,000 bonus to eligible full-time employees and $500 bonus to eligible part-time employees
- Invest in employee education and training
- Invest in sustainability and animal well-being
siouxcityjournal.com/news/local/tys…
- One-time $1,000 bonus to eligible full-time employees and $500 bonus to eligible part-time employees
- Invest in employee education and training
- Invest in sustainability and animal well-being
siouxcityjournal.com/news/local/tys…
UPS
- Invested $5 billion in pension plans
- Invest $7 billion in Smart Logistics Network
pressroom.ups.com/pressroom/Cont…
- Invested $5 billion in pension plans
- Invest $7 billion in Smart Logistics Network
pressroom.ups.com/pressroom/Cont…
U.S. Bancorp
- $1,000 bonus to nearly 60,000 employees
- Raise minimum wage to $15/hour
housingwire.com/articles/42185…
- $1,000 bonus to nearly 60,000 employees
- Raise minimum wage to $15/hour
housingwire.com/articles/42185…
Verizon
- Employees other than top management to receive 50 shares of restricted stock
cnbc.com/2018/01/23/ver…
- Employees other than top management to receive 50 shares of restricted stock
cnbc.com/2018/01/23/ver…
Wal-Mart
- One-time cash bonus of up to $1,000 to eligible employees
businessinsider.com/walmart-cash-b…
- One-time cash bonus of up to $1,000 to eligible employees
businessinsider.com/walmart-cash-b…
Washington Federal
- Employees earning <$100k will get 5% increase on top of normal merit increase
- Unspecified investments in training and development
cnbc.com/2018/01/26/us-…
- Employees earning <$100k will get 5% increase on top of normal merit increase
- Unspecified investments in training and development
cnbc.com/2018/01/26/us-…
Waste Management
- Allocate $2,000 to every North American employee not in a bonus or sales-incentive plan - around 34,000 employees.
investors.wm.com/news-releases/…
- Allocate $2,000 to every North American employee not in a bonus or sales-incentive plan - around 34,000 employees.
investors.wm.com/news-releases/…
Wells Fargo
- Raise minimum wage to $15/hour Target
- $400 million in 2018 philanthropic contributions
3blmedia.com/News/Wells-Far…
- Raise minimum wage to $15/hour Target
- $400 million in 2018 philanthropic contributions
3blmedia.com/News/Wells-Far…
Zions
- Increase compensation of more than 40% of employees
- $1,000 bonuses to nearly 80% of employees
- Contribute $12 million to charitable foundation
prnewswire.com/news-releases/…
- Increase compensation of more than 40% of employees
- $1,000 bonuses to nearly 80% of employees
- Contribute $12 million to charitable foundation
prnewswire.com/news-releases/…
