Senator Bill Nelson’s vote against tax reform is starting to catch up with him. 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. Floridians locally are feeling the positive impact following announcements from major U.S. companies with a Florida presence like PNC Financial and Bank of America, as well as Florida-based Darden Restaurants – the owners of the Olive Garden and LongHorn Steakhouse, just to name a few.
As Florida’s middle class continues to see the benefits of this tax bill through more money in their pockets, does Bill Nelson really still believe voting against it was the right thing for his state?
For more on the Tax Cuts and Jobs Act’s impact in Florida and states around the country, see the latest from RNC Research.
Senator Bill Nelson Opposed The Tax Cuts And Jobs Act Despite The Tangible Benefits For Florida Residents
Senator Bill Nelson (D-FL) Voted Against The Tax Cuts And Jobs Act. (H.R. 1 CQ Vote #323: Adopted 51-48 R 51-0 D 0-48, With Sen. Bill Nelson Casting A "Nay" Vote, 12/20,17)
There Are 14,500 AT&T Employees In Florida. "More than 14,500 AT&T employees working in Florida as of June 30, 2016." ("Jobs And Economic Support," AT&T, Accessed 1/3/18)
Bank Of America Has 564 Financial Centers In Florida. ("Florida," Bank Of America , Accessed 1/3/18)
PNC Financial Services Has 9 Wealth Management Offices In Florida. ("Wealth Management And Hawthorn Office Locations," PNC , Accessed 1/3/18)
Darden Restaurants, The Owners Of Olive Garden And LongHorn Steakhouse, Announced That They Planned To Invest $20 Million Into Their Employees As A Result Of Increased Profits From The Tax Cuts And Jobs Act. "Darden Restaurants Inc., the owner of Olive Garden and LongHorn Steakhouse, expects the federal corporate tax cut to fatten profits, and it promised to pass along some of the money to employees. The company is now planning for an effective tax rate of 18 percent this year, down from 25 percent earlier. That will bring a windfall of about $70 million, or 56 cents a share. The legislation known as the Tax Cuts and Jobs Act, which was passed last month, is poised to lower the restaurant chain's rate, though it also expects other changes to help as well. With its financial outlook brightening, the company pledged to spend about $20 million on employees." (Nick Turner, "Olive Garden Owner Pledges To Boost Employee Perks After Tax Cut," Bloomberg , 1/8/18)
- The Olive Garden Headquarters Are In Orlando, Florida. "The Olive Garden main headquarters are in Orlando, Florida, USA. Olive Garden Headquarters Address: 1000 Darden Center Dr Orlando, Florida 32837 United States." ("Where Is The Olive Garden Corporate Office?," Headquarters List , Accessed 1/8/18)
- Longhorn Steakhouse's Corporate Headquarters Is Located In Florida . "As you can see, the folks at Longhorn take grilling steaks seriously. How seriously? Just last week at Darden Corporate Headquarters in Orlando, seven of these brand's top grill masters (who - after weeks of regional competitions - had been culled from the 491 restaurants that make up this chain) competed for a $10,000 prize in the Company's second annual Steak Master Series." (Jim Hill, "Jens Dahlmann Of Longhorn Steakhouse Has Lots Of Great Tips When It Comes To Grilling," The Huffington Post , 7/4/17)
Budget and Spending Taxes