Billions of Crumbs: Over $3 Billion in Bonuses Given to American Workers So Far Because of Tax Cuts and Jobs Act
WASHINGTON, D.C. - Over $3 billion in bonuses have already gone out to American workers all over the country thanks to the Tax Cuts and Jobs Act's enactment less than two months ago, with over 300 companies passing on the savings they see under this bill to their employees with bonuses, pay raises, better benefits, and more job opportunities.
These billions in bonuses come as 90% of workers across the country will begin to see higher paychecks as their employers adopt the new withholding tables under the bill.
While elitist Democrat leaders like Nancy Pelosi and Debbie Wasserman Schultz are telling American workers their increases in take-home pay are "crumbs" that don't "[go] very far for almost anyone," those workers disagree. Take a look at what some real Americans outside of Washington are saying:
- Effingham Daily News: "For the Stoddards and others, every bit counts. 'We’ll be able to pay more bills,' said Rich Stoddard. 'We might be able to go out for dinner. Do the little things we might not be able to do until this kicks in. Honestly, your paycheck, you know where it’s going even before you get it. Now we have a little extra.'"
- Chicago Tribune: "Hair stylist Breitanya Williams spent part of her bonus fixing the taillights on her Buick Rendezvous — the only vehicle she and her husband own that will fit all four of their young children...Williams’ colleague Laura Naven also put her bonus toward her family. She paid down hospital bills left over from when she gave birth to her 4-month-old and put some money into savings. 'I have two kids, so building up the savings is key right now,' said Naven, 33, general manager at Five Senses."
- KATC-TV: "'It's bigger than crumbs like the politicians were saying... It's bigger than crumbs,' says Mark Guilbeau of Lafayette. And they're already making plans for what to do with it. 'I plan to pay down some credit card debt,' says Guilbeau."
How will Democrats defend their decision to vote against the higher paychecks of these American workers?
To see the growing number of companies increasing wages, investments, jobs, and bonuses because of the Tax Cuts and Jobs Act, click here.