House Minority Leader Nancy Pelosi’s predictions of “doom and gloom” continued to crash and burn this week, with utility companies around the country lowering their rates just months after the recently passed GOP tax cuts.
According to Americans for Tax Reform, the Republican-sponsored cuts have led to over 100 utility companies across the United States lowering costs and cutting bills; putting more money in the pockets of hard-working Americans.
“The Tax Cuts and Jobs Act cut the corporate rate from 35% to 21%. Utility companies are passing on the tax savings in the form of lower rates for customers,” writes the ATR.
One example is Tampa Electric in Tampa, Florida, who are slashing rates due to “recent changes made to the federal tax law.”
“What Tampa Electric would have paid in corporate income taxes will instead be used to the cost of restoring power after Hurricane Irma and several other earlier named Hurricanes. Additionally, Tampa Electric bills will reflect the ongoing benefits from tax reform starting in 2019,” adds the company.
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LIBERAL NIGHTMARE: Chrysler, Capital One RAISING WAGES after GOP Tax Cuts
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.
JUST IN: Capital One raises minimum wage to $15 per hour for U.S. employees. https://t.co/jn8limUSe7 pic.twitter.com/ouW67ybMLj
— 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.
NANCY'S NIGHTMARE: Home Depot to PAY BIG BONUSES After GOP Tax Cuts
Nancy Pelosi and Chuck Schumer’s doom-and-gloom predictions following the GOP tax cuts continued to crash and burn this week, with home-improvement giant Home Depot announcing their plans to pay out big bucks to their hourly employees.
The construction and hardware chain unveiled the new plan Thursday, pledging to dish-out $1,000 bonuses to US-based workers in the wake of the recently passed Republican tax legislation.
According to CNBC, the company structured its new payment scheme on fellow superstore Walmart; determining the size of the bonus by the employee’s “length of service.”
Based on the new plan, all of Home Depot’s American workers will receive $200, going up to $1,000 for individuals who’ve been with the company for two decades.
“This incremental investment in our associates was made possible by the new tax reform bill,” Chief Executive Officer Craig Menear said in a statement. “We are pleased to be able to provide this additional reward to our associates.”
Home Depot becomes the latest American corporation -joining Walmart, Visa, American Airlines, AT&T, Apple, and others- to raise wages, expand benefits, and pay-out big bonuses following the GOP-led tax cuts.