Shipping giant UPS joined dozens of other massive American corporations and pledged this week to reinvest billions in the US economy following the recent GOP tax cuts; vowing to spend the money on “network investments” as well as “pension funds.”
The worldwide logistics corporation announced its plan Thursday to reinvest at least $12 billion into its American-based sector, saying “favorable tax laws” have allowed the company to allocate new funding to “maximize the benefits” to their customers and employees.
“UPS today announced more than $12 billion in investments to expand the company’s Smart Logistics Network, significantly increase pension funding, and position the company to further enhance shareowner value,” said a statement on the company’s website.
“We applaud President Trump and Congress for their bold action to improve the U.S. economy,” sad David Abney, UPS Chairman and CEO. “Our investments will create new jobs, secure existing jobs and expand opportunities for our people. We are committed to remaining a preferred employer by continuing to provide industry-leading compensation and excellent career opportunities.”
UPS becomes the latest US-based corporation -joining Visa, Walmart, Disney, Starbucks, AT&T, American Airlines, and others- to pay out higher earnings, big bonuses, and expanded benefits after President Trump signed the sweeping tax overhaul into law late last year.
ARMAGEDDON CONTINUES: FedEx Announces $3.2 BILLION in Raises, Bonuses
The dire liberal predictions of doom and gloom following the recently passed GOP tax cuts continued to evaporate Friday, as shipping giant FedEx announced its plan to increase wages across the country and pay out big bonuses to American-based workers.
According to the New York Post, the nationwide shipping corporation unveiled its new plan to pay out over $200 million in increased wages, pledging two-thirds of the fund towards hourly employees and the rest to be doled out using performance metrics and time-served in the company.
FedEx also vowed to invest another $1.5 billion in the corporation’s benefits package and an addition $1.5 billion for its American transportation hubs.
“FedEx believes the Tax Cuts and Jobs Act will likely increase GDP and investment in the United States,” said a statement on the company’s website.
The announcement makes the shipping giant the latest American-based corporation to reinvest in the US economy following the passage of the GOP tax cuts.
AT&T, Starbucks, Disney, Home Depot, Walmart, American Airlines, Visa, and others have all raised wages and payed out big bonuses within weeks of President Trump signing the sweeping GOP tax legislation into law.
ARMAGEDDON CONTINUES: Pfizer to REINVEST BILLIONS in US Following GOP Tax Cuts
The liberal predictions of “doom and gloom” and “death and destruction” in the aftermath of the GOP tax cuts continued to evaporate on Tuesday, with pharmaceutical giant Pfizer announcing its plan to reinvest billions of dollars in the US economy following the sweeping tax legislation.
Pfizer now plans to repatriate tens of billions of dollars in profits back to the United States after the GOP plan slashed taxes on overseas holdings; finally allowing the New York-based corporation to bring those funds back to America.
“The drugmaker said Tuesday that it would pay $15 billion in so-called repatriation taxes over the next eight years to shift foreign earnings back to its home market. The exact amount the company plans to bring back was not immediately clear,” writes USA Today.
“The aspects of most importance to us were addressed in the new tax code, strengthening our ability to make capital allocation decisions that maximize patient benefit and enhance shareholder value,” said Pfizer’s Chief Financial Officer.
The announcement comes as other giant American-based companies -such as Walmart, AT&T, Disney, American Airlines, Starbucks, Home Depot, and more- unveil their plans to raise wages and pay big bonuses in the immediate aftermath of the GOP tax overhaul.