1 Million-Plus Americans Getting Bonuses Because of Trump Tax Cut

Printed from: https://newbostonpost.com/2018/01/05/1-million-plus-americans-getting-bonuses-because-of-trump-tax-cut/

At least one million Americans are getting bonuses from their employers because of the corporate tax cuts recently passed by Congress and signed into law by President Donald Trump, according to Americans for Tax Reform.

The conservative advocacy group published Friday a list of 117 companies in the United States that have announced bonuses to their workers.

Seventy-one of those companies announced bonuses of $1,000.

“Just five days into 2018 the Tax Cuts and Jobs Act has changed the nation for the better. American companies are raising wages, paying bonuses, expanding operations and increasing 401(k) contributions,” said Grover Norquist, president of Americans for Tax Reform, in a written statement Friday.

At least two of those companies are in New England.

HarborOne Bank, headquartered in Brockton, has announced $500 bonuses for 600 employees and an increase in its minimum wage to $15 per hour.

Citizens Financial Group, headquartered in Providence, Rhode Island, which operates Citizens Bank, announced $1,000 bonuses for 12,500 employees “below a certain compensation threshold” – about 70 percent of its employees, the company said.

President Trump signed the tax cut into law December 22. It reduces the corporate tax rate in the United States from 35 percent to 21 percent.