It was supposed to lead to “the end of the world.” (Yes, Nancy Pelosi predicted “Armageddon.”) But on the 6th month anniversary of President Trump signing the Tax Cuts and Jobs Act into law:
- 90% of workers have higher take-home pay
- consumer confidence is at an 18-year high
- unemployment is at an 18-year low
And don’t forget about all of the crumbs!
Sutter Masonry, Inc. (El Mirage, Arizona) -- The company employs approximately 100 people. Hourly wages were increased by $1.00 and over $50,000 in bonuses were distributed.
U-Haul (Headquarters in Phoenix, with many locations statewide) – $1,200 bonus for full-time employees, $500 for part-time employees; over 28,000 workers will receive a bonus.
YAM Worldwide (Scottsdale, Arizona) -- $2,000 bonuses for the 595 employees who have been with the company more than six months; $1,000 bonuses for the 131 employees who have been with the company less than six months. More than $1.3 million in bonuses were paid.
Data Sales Co., Inc. (Scottsdale, Arizona) – $1,000 bonuses for all 80 employees.
Western Alliance Bancorporation (Phoenix, Arizona) – Base pay raise of 7.5 percent for the lowest-paid 50% of employees; increased bonuses; increased 401(k) match; etc.
Arizona Public Service (Phoenix, Arizona) -- The utility requested a $119 million bill reduction for customers due to tax reform.
Tucson Electric Power Company (Tucson, Arizona) – The utility will pass tax reform savings to customers.
AT&T - $1,000 bonuses to 1,510 Arizona employees; Nationwide, $1 billion increase in capital expenditures.
Apple (Apple store locations in Chandler, Gilbert, Glendale, Phoenix, Scottsdale, Tucson ) -- Arizona-based Apple employees received $2,500 bonuses in the form of restricted stock units. Nationally, $30 billion in additional capital expenditures; 20,000 new employees will be hired; increased support of coding education and science, technology, engineering, arts, and math; increased support for U.S. manufacturing.
Wal-Mart – Arizona employees at 113 Walmart stores received tax reform bonuses, wage increases, and expanded maternity and parental leave. Walmart employees who adopt children will be given $5,000 to help cover expenses.
Lowe's -- 4,000 employees at 32 stores in Arizona. Employees will receive bonuses of up to $1,000 based on length of service; expanded benefits and maternity/parental leave; $5,000 of adoption assistance.
Waste Management Inc. (Multiple locations in Arizona) -- $2,000 bonuses.
FedEx (Multiple locations in Arizona) – More than $3.2 billion in wage increases, bonuses, pension funding due to the recent tax cuts. Pay raises, bonus increases, pension plan increases, and at least $1.5 billion in capital expenditures.
Comcast (Multiple locations in Arizona) -- $1,000 bonuses; nationally, at least $50 billion investment in infrastructure in next five years.
Chipotle Mexican Grill (Multiple locations in Arizona) – Bonuses ranging from $250 to $1,000; increased employee benefits; nationally, $50 million investment in existing restaurants.
Starbucks Coffee Company (Multiple locations in Arizona) – $500 stock grants for all retail employees, $2,000 stock grants for store managers, and varying plan and support center employee stock grants. Nationally, 8,000 new retail jobs; an additional wage increase this year, totaling approximately $120 million in wage increases, increased sick time benefits and parental leave.
McDonald’s (280+ locations in Arizona) – Increased tuition investments which will provide educational program access for 400,000 U.S. employees. $2,500 per year (up from $700) for crew working 15 hours a week, $3,000 (up from $1,050) for managers, and more:
Wells Fargo – 181 bank locations in Arizona; raised base wage from $13.50 to $15.00 per hour; nationally, $400 million in charitable donations for 2018; $100 million increased capital investment over the next three years.
Source: Americans for Tax Reform
Are we dead yet?
Economy Jobs, Wages and Unemployment