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False Alarmageddon

Preya Samsundar - June 22, 2018

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!
 
Albert Lea Public Warehouse (Albert Lea, Minnesota) – $2,000 bonuses for all 12 employees.
 
Priority Courier Experts (St. Paul, Minnesota) – tax reform bonuses were given on Jan. 2, 2018 to employees; further, employees will receive another $500 bonus in 2018 on the anniversary of their hire date.
 
Circuit Interruption Technology Inc. -- CIT Relay & Switch (Rogers, Minnesota) – One week of extra pay added to final 2017 paycheck; hiring of new employees, growing the staff by 10 percent.
 
Otter Tail Power Co. (Fergus Falls, Minnesota) – the utility will pass along tax reform savings to customers.
 
Koch Companies Inc. (Minneapolis, Minnesota) – increased driver wages; increased sign on bonuses.
 
U.S. Bancorp (Minneapolis, Minnesota) – $1,000 bonuses for 60,000 employees; base wage hike to $15 per hour; $150 million charitable contribution.
 
Northern States Power (Minneapolis, Minnesota) – The utility will pass along tax cut savings to customers.
 
Bio-Techne (Minneapolis, Minnesota) -- $500 bonuses for all 1,650+ employees
 
Best Buy (Richfield, Minnesota) -- $1,000 bonuses for full-time employees; $500 bonuses for part-time employees. Over 100,000 employees nationwide will receive bonuses.
 
Hormel Foods Corp. (Austin, Minnesota) – Stock options for employees; increased base wage to $13 per hour.
 
TCF Financial Corporation (Wayzata, Minnesota) -- $1,000 bonuses for full time employees; $500 bonuses for part time employees (exact number receiving bonus unknown at this time).
 
Data Sales Co., Inc. (Minneapolis, Minnesota) – $1,000 bonuses for all 80 employees
 
DTN (Burnsville, Minnesota) -- DTN an independent provider of information and actionable insights in the areas of agriculture, transportation and energy, and publisher of The Progressive Farmer, gave $1,000 bonuses to nearly 700 employees.
 
Ecolab Inc. (St. Paul, Minnesota) – $25 million in charitable donations
 
T.J. Maxx – 16 stores in Minnesota – tax reform bonuses, retirement plan contributions, parental leave, enhanced vacation benefits, and charitable donations.
 
Apple (There are five Apple stores in Minnesota: Bloomington, Edina, Minneapolis, Minnetonka, Roseville) -- $2,500 employee bonuses in the form of restricted stock units; nationally, $30 billion in additional capital expenditures over five years; 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.
 
AT&T -- 1,592 Minnesota employees received $1,000 bonuses; nationally, $1 billion increase in capital expenditures.
 
Bank of America (Multiple locations in Minnesota) -- $1,000 bonuses.
 
Chipotle Mexican Grill (Multiple locations in Minnesota) – Bonuses ranging from $250 to $1,000; increased employee benefits; nationally, $50 million investment in existing restaurants.
 
Cintas Corporation (Multiple locations in Minnesota) -- $1,000 bonuses for employees of at least a year, $500 bonuses for employees of less than a year.
 
CVS Health (Multiple locations in Minnesota) -- Base wage raised to $11 per hour, and other pay ranges adjusted accordingly; company will absorb increases costs of health insurance premiums; creation of new parental leave program.
 
Comcast (Multiple locations in Minnesota) -- $1,000 bonuses; nationally, at least $50 billion investment in infrastructure in next five years.
 
Home Depot (Multiple locations in Minnesota) -- Bonuses for all hourly employees, up to $1,000
 
Lowe's -- 1,000 employees at 11 stores in Minnesota. Bonuses of up to $1,000 based on length of service; expanded benefits and maternity/parental leave; $5,000 of adoption assistance.
 
Ryder (Six locations in Minnesota) – Tax reform bonuses for employees totaling $23 million nationwide.
 
Taco John’s (62 locations in Minnesota): All full-time and part-time crew members received a $200 after-tax bonus.
 
Starbucks Coffee Company (Multiple locations in Minnesota) – $500 stock grants for all Starbucks retail employees, $2,000 stock grants for store managers, and varying plant and support center employee stock grants, totaling more than $100 million in stock grants nationwide; 8,000 new retail jobs and 500 new manufacturing jobs; an additional wage increase this year, totaling approximately $120 million in wage increases, increased sick time benefits and parental leave.
 
U-Haul (Multiple locations in Minnesota) – $1,200 bonuses for full-time employees, $500 bonuses for part-time employees.
 
Wal-Mart  69 locations in Minnesota; Base wage increase for all hourly employees to $11; bonuses of up to $1,000; expanded maternity and parental leave; $5,000 for adoption expenses.
 
Waste Management, Inc. (Multiple locations in Minnesota) -- $2,000 bonuses.
 
Wells Fargo – 157 bank locations in Minnesota -- Base wage raised from $13.50 to $15.00 per hour; nationally, $400 million in charitable donations for 2018; $100 million increased capital investment over next three years.
 
Anthem (Multiple locations in Minnesota) -- Nationally, $1,000 in extra 401(k) contributions for 58,000 employees.
 

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