Walmart, the nation’s largest employer, said Thursday it will raise its minimum wage to $11 per hour, expand maternity leave options for workers, and give $1,000 bonuses to hourly employees, based on their years of service.
The bonus announcement comes as corporations and small businesses prepare for a corporate tax cut and a reduction in taxes for unincorporated businesses that President Donald Trump recently signed into law. Walmart officials cited the tax cut as a reason for measures to improve employee compensation and working conditions.
“Today, we are building on investments we’ve been making in associates, in their wages and skills development,” said Walmart CEO Doug McMillon in a statement. “It’s our people who make the difference, and we appreciate how they work hard to make every day easier for busy families.”
Great news, as a result of our TAX CUTS & JOBS ACT! pic.twitter.com/SLvhLxP3Jl
— Donald J. Trump (@realDonaldTrump) January 11, 2018
Trump celebrated the news by tweeting a Fox Business clip about the Walmart decision. – READ MORE
[give_form id=”79809″] [divider][/divider]Over 1 million American workers with over 100 companies are set to receive a bonus, pay hike or retirement increase as a direct result of President Trump’s tax reform package.
The latest list from Americans for Tax Reform, which has been collecting the names of firms paying the Trump bonus, finds that some are paying as much as $3,000.
“Some 40 U.S. companies have responded to President Trump’s tax cut and reform victory in Congress last year by handing out bonuses up to $2,000, increases in 401k matches and spending on charity, a much higher number than previously known.” https://t.co/bmWrwWzxMR
— Donald J. Trump (@realDonaldTrump) January 4, 2018
Many of those firms have reached out to Secrets to get added to the list since we’ve been publishing ATR’s list compiled by the tax reform advocate’s communications chief John Kartch.
One company, IAT Insurance of Raleigh, N.C., wrote Secrets today asking to be added. “I just read your story on the 100 companies giving bonuses after tax reform. On December 11, IAT Insurance Group announced their pledge to reinvest tax savings into what makes IAT great, their employees. After the bill officially passed, IAT announced on December 21 their plan to pay all non-executive employees a $3,000 bonus on January 15, 2018,” said the company. – READ MORE
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