FedEx announced Friday it will commit to more than $3.2 billion in wage increases, bonuses, and American capital investment due to the recently passed Tax Cuts and Jobs Act.
“FedEx believes the Tax Cuts and Jobs Act will likely increase GDP and investment in the United States,” FedEx wrote.
FedEx revealed in its statement that it will spend more than $200 million in increased compensation, about two-thirds of which will go to hourly workers, and the remainder will go to increases in performance-related incentive plans for salaried personnel.
FedEx also suggested it will contribute $1.5 billion to the FedEx pension to ensure that it remains “one of the best-funded retirement programs in the country.”
The shipping company also wrote in the statement that it will invest “$1.5 billion to significantly expand the FedEx Express Indianapolis hub over the next seven years. The Memphis SuperHub will also be modernized and enlarged in a major program the details of which will be announced later this spring.” – READ MORE
[give_form id=”79809″] [divider][/divider]A telling new survey by the Pew Research Center reveals that Democrats who considered the economy a top priority under the Obama administration have changed their tune now that the economy has taken off under Trump.
The results of the survey are stark. In 2013, an overwhelming majority of the Democratic party (87 percent) said that strengthening the economy was a top priority, whereas today just 64 percent of Democrats say they consider the economy a key issue.
Something similar has occurred in Democrats’ appreciation for the importance of jobs. In 2013, 81 percent of Democrats said they viewed improving the nation’s job situation as a top policy goal, while today just 58 percent of Democrats say this.
Taking the place of the economy and employment among Democrats’ top priorities are global warming and environmental protection. Today, 68 percent of Democrats and those leaning Democratic say that addressing climate change should be a top priority for Trump and Congress, Pew found. By contrast, a scant 18 percent of Republicans and Republican leaners say it is a top priority. – READ MORE
[give_form id=”79809″] [divider][/divider]A majority of small business owners, 63.8 percent, believe that President Trump’s policies have helped their business, according to a survey from the Job Creators Network.
More business owners—57.5 percent—believe Republicans do a better job of managing economic issues than do Democrats (14 percent). The survey finds the support is likely due to Trump’s ability to roll back regulations and red tape on businesses.
A majority of businesses also support the tax reform package that was signed into law and believe media coverage of the proposal was biased.
Sixty-eight percent of small businesses view the legislation favorably or somewhat favorably. Fifty-eight percent said the Tax Cuts and Jobs Act will benefit their business.
“Since much of the media coverage surrounding the bill has been critical (57.3 percent of respondents viewed the coverage as biased), these numbers provide insight into what the biggest job creators in the country are expecting to gain from the new tax relief,” the survey explained. – READ MORE
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