Jan 12, 2018
VIDEO | Walmart Raises Wages to $11, Waste Management to Award Bonuses Worth Thousands
Post by Freedom Partners
Despite the critics who said otherwise, the pro-growth Tax Cuts and Jobs Act is already making a real difference for businesses and millions of employees and their families finding it tougher to get ahead under a rigged system.
To date, over 125 U.S. businesses have already pledged bigger paychecks, higher wages, more jobs and billions of dollars in new investment due to the new tax law. CNBC reports that Walmart and Waste Management are among the latest business making major investments.
“Walmart’s workers will soon reap the benefits of the recent tax law changes, as the world’s largest private employer raises its starting wage, creates new benefits and distributes bonuses to eligible workers.
“The big-box retailer announced Thursday it will increase its starting wage rate for hourly employees in the U.S. to $11, and expand maternity and parental leave benefits. Currently, Walmart’s starting wage is $9 until workers complete a training program. Then, they receive $10.
“Walmart will also pay a one-time cash bonus to eligible employees of as much as $1,000. The payouts, which should total roughly $400 million, will result in a one-time charge that the company will take in its fiscal fourth quarter.”
“Waste Management said Wednesday that it will give $2,000 in special bonuses to about 34,000 employees.
“The company said the cash bonuses will be given to its North American employees who are not on a bonus or sales incentive plan, including hourly and other employees.
“The news comes after other companies have made similar announcements, citing the passage of tax legislation that slashes the corporate tax rate to 21 percent from 35 percent.
“CEO Jim Fish said in a statement the company wanted to pass on the tax benefit to its employees.”
History proves that bold tax relief will benefit all Americans. Tax cuts under presidents Kennedy, Reagan and Bush resulted in strong economic growth, billions of dollars more in federal revenue, thousands of dollars more in take home pay and millions more jobs Americans deserve.