Senator Claire McCaskill’s vote against tax reform is starting to catch up with her. After the historic passage of the Tax Cuts and Jobs Act, more than 100 businesses nationwide have already announced bonuses or pay raises for their employees. Missourians locally are feeling the positive impact following announcements from major U.S. companies with a Missouri presence like PNC Financial and Bank of America, as well as Missouri-based companies Great Southern Bancorp, Inc. and Commerce Bancshares, Inc., just to name a few.
As Missouri’s middle class continues to see the benefits of this tax bill through more money in their pockets, does Claire McCaskill really still believe voting against it was the right thing for her state?
For more on the Tax Cuts and Jobs Act’s impact in Missouri and states around the country, see the latest from RNC Research.
Senator Claire McCaskill Strongly Opposed The Tax Cuts And Jobs Act Despite The Tangible Benefits For Missouri Residents
A Spokeswoman For Senator Claire McCaskill (D-MO) Said That The Senator Opposed The Tax Cuts And Jobs Act Because The Republican Bill Was "All About Millionaires And Billionaires," And Would Not Benefit Missouri Families. "Meira Bernstein, a spokesperson for Democrat Claire McCaskill's campaign, said the tax plan only rewards the rich, while failing to come through on key promises made by Republicans. 'Claire has been clear that she supports real, bipartisan tax reform - but that is not what Senate Republicans forced through on a party line vote,' said Bernstein. 'The current tax legislation is all about millionaires and billionaires and most Missouri families will only get crumbs off the table. It is not simpler, it is not fairer, there are lots of new loopholes, and there will be trillions of dollars in new debt for future generations.'" (Jason Taylor, "Missouri's GOP Congressional Delegation Rallies Behind Tax Package Amid Poor Polling," Missourinet , 12/20/17)
There Are 9,400 AT&T Employees In Missouri . "More than 9,400 AT&T employees working in Missouri as of June 30, 2016." ("Jobs And Economic Support," AT&T, Accessed 1/3/18)
Bank Of America Has 80 Financial Centers In Missouri. ("Missouri," Bank Of America , Accessed 1/3/18)
PNC Financial Services Has 1 Wealth Management Office In Missouri. ("Wealth Management And Hawthorn Office Locations," PNC , Accessed 1/3/18)
Mid-AM Metal Forming, A Missouri-Based Company, Will Give Its 140 Employees Bonuses Because Of The Tax Cuts And Jobs Act. "Mid-AM Metal Forming is giving its 140 employees cash bonuses. The local company is one of many companies, like Jet Blue and AT&T, giving employees a bonus because of the tax law reform. 'Mid-AM Metal Forming is excited about the positive implications the tax reform package will have both on the manufacturing industry and its employees," President Steve Johnson said in a news release. "We have very dedicated employees that assist in making us a success. We are excited to surprise all of them with this reward.'" (Cortlynn Stark, "Mid-AM Metal Forming To Give Employees Bonuses," Ozarks First, 1/6/18)
Great Southern Bancorp, Inc. Announced It Will Give Cash Bonuses To More Than 1,200 Full Time Employees And $500 Cash Bonuses To All Party Time Employees. "Great Southern Bancorp, Inc., the holding company for Great Southern Bank, announced today that following the enactment of the new federal tax reform legislation, it will distribute special cash bonuses to its more than 1,200 employees. A $1,000 cash payment will be made to all full-time employees and a $500 cash payment will be made to all part-time employees who were employed by the Company on December 31, 2017." (Press Release, "Great Southern Bancorp, Inc. Announces Employee Bonuses Following Enactment Of Tax Reform Bill," Great Southern Bancorp , Accessed 1/8/18)
- Great Southern Is Headquartered In Springfield, Missouri And Operates 104 Retail Banking Centers In The State And Across The Midwest. "With total assets of $4.5 billion, Great Southern offers a broad range of banking services to commercial and consumer customers. Headquartered in Springfield, Mo., the Company operates 104 retail banking centers in Missouri, Arkansas, Iowa, Kansas, Minnesota and Nebraska" (Press Release, "Great Southern Bancorp, Inc. Announces Employee Bonuses Following Enactment Of Tax Reform Bill," Great Southern Bancorp , Accessed 1/8/18)
Commerce Bancshares, Inc. Announces That It Will Offer $1,000 Bonuses To 3,450 Associates, 75 Percent Of The Banks Workforce, That Were Otherwise Not Eligible For Bonuses. "Commerce Bancshares, Inc. announced that following the enactment of the new federal tax reform legislation it will distribute cash bonuses to employees who are otherwise non-bonus eligible and non-commission eligible, totaling approximately 3,450 associates or 75% of the Bank's workforce. A cash payment of $1,000 will be made to all of these full-time employees and a $250 cash payment to all part-time employees employed by the Company on December 31, 2017. Additionally, in 2017, Commerce made a donation of $32 million of appreciated stock to The Commerce Bancshares Foundation (including $25 million in the fourth quarter 2017), which will be to the advantage of the communities we serve." ("Commerce Bancshares, Inc. Announces Employee Bonuses Following Tax Reform Bill," Business Wire , 1/2/18)
- Commerce Bancshares, Inc. Operates 330 Locations Across The Country, Including Missouri And Michigan . "Commerce Bancshares, Inc. is a registered bank holding company offering a full line of banking services including investment management and securities brokerage. The Company currently operates in approximately 330 locations in Missouri, Kansas, Illinois, Oklahoma, Colorado, Ohio, Tennessee, Texas, Indiana, Michigan, and Iowa." ("Commerce Bancshares, Inc. Announces Employee Bonuses Following Tax Reform Bill," Business Wire , 1/2/18)
Budget and Spending Taxes