On the recordJanuary 30, 2018
Mr. President, the good news about tax reform continues to roll in--wage increases, better benefits, increased investment, and employee bonuses. So far, more than 250 companies have announced good news for their employees--pay hikes, increased retirement contributions, or bonuses, and the list continues to grow. Last week, JPMorgan Chase, Disney, Starbucks, and FedEx all announced increased investment in American workers. JPMorgan Chase announced that it will raise wages for 22,000 workers, add thousands of new jobs, and open 400 new branches in the United States. It also plans to increase its lending to small businesses. Disney will invest in employees' education and provide employee bonuses. Starbucks is raising wages, increasing benefits, and rewarding employees with company stock. FedEx announced plans to expedite raises and invest $1.5 billion to expand its FedEx Express hub in Indianapolis. It is also making a $1.5 billion contribution to its pension plan. To top it off, yesterday ExxonMobil announced that, thanks in part to tax reform, it will invest an additional $35 billion into the U.S. economy over the next 5 years. That means a lot of new jobs and opportunities for American workers. Stories like this are why we made business tax reform a key part of the Tax Cuts and Jobs Act.…
Source
govinfo.gov




