It’s a great day to be a Hoosier! You can add two more Indiana-based companies to the 300+ companies who’ve already announced higher wages, bonuses, charitable contributions, and investments due to the passage of the Tax Cuts and Jobs Act.
Indianapolis-based Anthem is giving $1,000 401 (k) contributions to all 58,000 of their employees, including more than 4,700 Hoosiers. Valparaiso-based Family Express is increasing entry-level pay by $1 an hour. If you work 40 hours a week that’s a $40 weekly increase, which is something former President Barack Obama used to champion.
Anthem and Family Express join these other Hoosier-based companies in giving benefits directly to their employees, and that’s not even including the $1.5 billion investment FedEx made for its Indianapolis hub.
This is all happening while Hoosiers are seeing larger paychecks this month, and before the tax reform benefits kick in when they go to file their taxes. Don’t take it from me though, here’s what local CPA and director of tax for Simons Bitzer & Associates David Winters told WISH-TV this morning about the incoming changes to filing their taxes:
- “A large number of taxpayers will pay lower tax because they will have more of their taxable income hitting those lower tax brackets.”
- “A lot of taxpayers won’t have to itemize and take that time and have to track all that information.”
This all begs the question: Does Joe Donnelly still stand by his no vote on tax reform?
“When Joe Donnelly voted along partisan lines to oppose tax reform, he chose Chuck Schumer and Elizabeth Warren over Hoosiers. As Hoosiers continue to see larger paychecks and benefits due to the passage of the Tax Cuts and Jobs Act, they will be reminded that Joe Donnelly voted against it. Does he really still stand by his no vote on tax reform?” –RNC Spokesperson Michael Joyce
Budget and Spending Taxes