Despite the fears of the Democrats, at least 100 companies are using their new tax breaks to pay bonuses to their employees, raise wages or make charitable donations.
And to prove that the benefits of the tax bill are real, the advocacy group Americans for Tax Reform has been watching the internet for announcements from companies and compiled a list of the businesses passing the benefits of the bill on to their workforce.
Initially, there were only a handful of companies that released statements saying they would be giving back to their employees.
But even companies that aren’t giving money back in the form of bonuses are still finding ways of passing their savings onto their workers. Wells Fargo, for instance, is raising its minimum wage to $15 an hour, while other companies like Aflac are contributing more to their employees’ 401(k) accounts.
Aflac CEO Dan Amos said in a statement:
We are pleased that these tax reforms provide Aflac with an opportunity to increase our investments in initiatives that reflect our company values; providing for our employees in the long and short term, ensuring future growth for our company and giving back to the community.
Americans for Tax Reform President Grover Norquist said the generosity of these companies eliminates the fear that tax cuts are only making CEOs of these companies richer, according to the Washington Examiner:
Every announcement of another company raising wages, hiring, paying bonuses, investing in America is another nail in the coffin of the Democrat attacks on the Republican tax cut.
The list was released shortly after former Hillary Clinton adviser Philippe Reines expressed concern that millennial voters might start favoring GOP candidates in elections in response to their taxes going down.
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