The economic “nightmare” predicted by left-wing lawmakers such as Nancy Pelosi and Chuck Schumer continued this week, with more and more major American corporations announcing increased wages and big bonuses following the GOP-led tax cuts.
Less than one day after House Minority Leader Nancy Pelosi blasted the tax legislation as “pathetic crumbs” to working-class families, Fiat Chrysler and Capital One pledged to raise wages and pay out big bonuses to American-based workers as a direct result of the Republican tax overhaul.
— CNBC Now (@CNBCnow) January 11, 2018
In addition, Chrysler officially announced its plan to relocate a major production plant from Mexico to Michigan “in response to the passage of U.S. tax reform late last year.”
“BREAKING: Fiat Chrysler to invest $1B+ to modernize a Michigan plant, in addition to previous $1B investment in the plant; will add 2500 new jobs, and will give $2,000 bonuses to 60,000 of its hourly and salaried employees in the US because of tax reform,” tweeted CNBC.
Chrysler and Capital One join a growing list of major American corporations –such as AT&T, Boeing, Southwest Airlines, Walmart, and others- raising wages and re-investing in the United States after the GOP and President Trump successfully passed the largest overhaul of the nation’s outdated tax code in generations.
ARMAGEDDON? Visa RAISING EMPLOYEE BENEFITS Following GOP Tax Cuts
House Minority Leader Nancy Pelosi’s dire predictions of “Armageddon” and the “end of the world” regarding the GOP tax cuts continued to evaporate on Monday, with credit card giant Visa announcing it would be expanding benefits to its US-based workers following the business-friendly legislation.
According to CNBC, Visa announced the company would be “raising its 401(k) matching for employees in response to tax reform.”
“JUST IN: Visa is raising its 401(k) matching for employees in response to tax reform; company also will examine other long-term investments.”
JUST IN: Visa is raising its 401(k) matching for employees in response to tax reform; company also will examine other long-term investments. pic.twitter.com/aoo5jT8ns1
— CNBC Now (@CNBCnow) January 8, 2018
The move makes the company the latest American corporation to drastically increase benefits and bonuses to workers following the GOP tax cut. American Airlines, AT&T, Boeing, Southwest Airlines, and others all announced renewed investments after President Trump signed the bill.
Hours before the law’s passage, former Speaker of the House Nancy Pelosi slammed the legislation; saying the new tax cuts would spark “Armageddon,” adding that it would bring about “the end of the world” for hard-working American families.
ARMAGEDDON? Walmart to RAISE U.S. WAGES After GOP Tax Cuts
US retail giant Walmart announced Thursday its plan to raise wages for its employees across the country and pay out big bonuses in response to the recently passed GOP tax cuts; throwing more cold-water on prominent Democrats predictions of “the end of the world” after the President signed the sweeping overhaul.
Walmart –the largest single employer in multiple states throughout the nation- released an official statement this week, saying the megastore will raise its hourly wage for all associates to $11, expand maternity leave, and give out $1,000 in bonuses to eligible employees.
“Today, we are building on investments we’ve been making in associates, in their wages and skills development,” said Doug McMillon, Walmart president and CEO. “It’s our people who make the difference and we appreciate how they work hard to make every day easier for busy families.”
“We are early in the stages of assessing the opportunities tax reform creates for us to invest in our customers and associates and to further strengthen our business, all of which should benefit our shareholders,” he added.
The announcement is a far cry from House Minority Leader Nancy Pelosi’s predictions of “Armageddon” and the “end of the world.”
Other major American corporations, such as Southwest Airlines, AT&T, Boeing, and others have also announced major investments in US-based workers following the tax cuts.