American employers announce reinvestment in employees and economy
Washington, D.C. — One after another, some of our nation’s largest job providers are announcing increased investments in the American economy, increases in minimum wage and substantive bonuses as a result of the passage of the Tax Cuts and Jobs Act. Businesses large and small are praising the passage of this historic bill that will provide a much-needed economic boost to this country.
On the day the tax bill was passed, the following companies announced their intentions to reinvest in their employees and the American economy:
- Fifth-Third Bancorp announced a plan to raise its minimum hourly wage for all employees to $15/hour and distribute a one-time bonus of $1,000 for more than 13,500 employees following passage of the Tax Cuts and Jobs Act.
- Wells Fargo announced a plan to raise its minimum wage to $15/hour and target $400 million in 2018 philanthropic contributions.
- AT&T announced that it will give 200,000 employees a $1,000 raise once the bill is signed into law. In addition, the company plans to keep its promise to invest an additional $1 billion in the United States.
- Comcast is reporting to give $1,000 bonuses to more than 100K eligible frontline and non-executive employees and invest $50 billion over the next five years in infrastructure based on the passage of tax reform.
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