Thanks to the Tax Cuts and Jobs Act passed by the Republican congress and signed by President Donald Trump, 90 percent of wage earners have higher take-home pay.

Below are several examples of tax reform good news in Washington, D.C. (Additions to this list can be sent to jkartch@atr.org)

Right Proper Brewing Company (Washington, D.C.) -- The Tax Cuts and Jobs Act allowed the company to keep beer prices low:

At Right Proper Brewing Company in Washington, D.C., the tax cut saved the company more than $13,000. The brewery produces roughly 600 barrels annually at its restaurant and another 3,200 barrels at its production house in Northeast D.C., which opened in December 2015, co-owner Leah Cheston said.

 With the rate of $3.50 per barrel, the reduced federal excise taxes have allowed Cheston to keep prices at Right Proper's brewpub low, especially when compared with other restaurants in the area.

 "It's prevented us from having to raise prices because everything increases constantly," she said. "To get that break is great. As a small business, every little bit counts." -- Sept. 26, 2019 Washington Examiner

Pepco (Washington, DC) – The utility will pass along tax savings to customers:

Pepco today announced they will file with the Public Service Commission of the  District of Columbia in early February, outlining plans to provide annual tax savings to more than 296,000 electric customers in the District of Columbia. If approved, Pepco would plan to begin providing a credit lowering customer bills starting in the first quarter of 2018.       

The tax savings are the result of federal tax reductions under the new Tax Cuts and Jobs Act, which was signed into law on Dec. 22, 2017, and became effective on Jan. 1, 2018. The decrease in the Corporate Tax Rate from 35 percent to 21 percent reduces the amount of federal income tax Pepco will have  to pay. 

“The tax law will result in lower bills for our customers and lower taxes for Pepco,” said Dave Velazquez, President and CEO, Pepco Holdings, which includes Pepco. – Jan. 5 2018, Pepco press release

Washington Gas Light (Washington, DC) – The utility will pass tax cut savings on to customers:

The legislation cuts the federal corporate income tax rate from 35% to 21% effective January 1, 2018. This tax cut, in turn, reduces the cost of service for many of Virginia’s major electric, gas and water utilities. Utility rates paid by customers are based on the cost of service.

To preserve the savings from this tax cut for customers, the Commission ordered all applicable Virginia utilities to account for the tax savings by accruing a regulatory liability on the utility’s books. The tax savings will thus be quantified and available to be passed on to customers in subsequent rate proceedings.

The utilities subject to the Commission’s order serve millions of Virginia residential and business customers. They include Virginia-American Water Company; Aqua Virginia, Inc.; Washington Gas Light; Columbia Gas of Virginia; Virginia Natural Gas; Roanoke Gas; Atmos Energy; Southwestern Virginia Gas; Appalachian Natural Gas Distribution; Kentucky Utilities; Appalachian Power Company; and Virginia Electric and Power Company. –January 8, 2018, Virginia SCC Press Release

Walmart - Washington D.C. employees at 3 Walmart stores received tax reform bonuses, wage increases, and expanded maternity and parental leave. Walmart employees who adopt children will be given $5,000 to help cover expenses.

Starbucks Coffee Company (91 locations in Washington, D.C.) – $500 stock grants for all  retail employees, $2,000 stock grants for store managers, and varying plant and support center employee stock grants, totaling more than $100 million in stock grants. Nationally, 8,000 new retail jobs and 500 new manufacturing jobs; an additional wage increase this year, totaling approximately $120 million in wage increases, increased sick time benefits and parental leave.

T.J. Maxx – (Four locations in Washington, D.C.) – Tax reform bonuses, retirement plan contributions, parental leave, enhanced vacation benefits, and increased charitable donations:

The 2017 Tax Act benefited the Company in the fourth quarter and full year Fiscal 2018. The Company expects to continue to benefit from the 2017 Tax Act going forward, primarily due to the lower U.S. corporate income tax rate. As a result of the estimated cash benefit related to the 2017 Tax Act, the Company is taking the following actions:

Associates

• A one-time, discretionary bonus to eligible, non-bonus-plan Associates, globally
• An incremental contribution to the Company’s defined contribution retirement plans for eligible Associates in the U.S. and internationally
• Instituting paid parental leave for eligible Associates in the U.S.
• Enhancing vacation benefits for certain U.S. Associates

Communities

Made meaningful contributions to TJX’s charitable foundations around the world to further support TJX’s charitable giving – Feb. 28, 2018 The TJX Companies Inc. press release excerpt

AT&T - $1,000 bonus to 222 D.C. employees; Nationwide, $1 billion increase in capital expenditures.  

Apple (One store location in Washington, D.C.) -- $2,500 employee bonuses in the form of restricted stock units; Nationwide, $30 billion in additional capital expenditures over five years; 20,000 new employees will be hired; increased support of coding education and science, technology, engineering, arts, and math; increased support for U.S. manufacturing.

Lowe's -- 150+ employees at one store in Washington, D.C. -- Employees will receive bonuses of up to $1,000 based on length of service, for 260,000 employees; expanded benefits and maternity/parental leave; $5,000 of adoption assistance

Ryder (One location in Washington, D.C.) - Tax reform bonuses for employees.

Best Buy -- Two stores in Washington, D.C. - $1,000 bonuses for full-time employees; $500 bonuses for part-time employees.

Bank of America (Three locations in Washington, D.C.) - $1,000 bonuses. 

Home Depot - One location in Washington, D.C., bonuses for all employees, up to $1,000.

Dollar Tree, Inc. (Multiple locations in Washington, D.C.) Nationwide, $100 million investment in raising base wages, enhanced benefits, including maternity leave for qualifying employees and employee training. 

Waste Management Inc. (Locations in Washington, D.C.) -- $2,000 bonuses:

In light of the meaningful contributions of its employees and the new U.S. corporate tax structure, the company will distribute US $2,000 in 2018 to every North American employee not on a bonus or sales incentive plan; that includes hourly and other employees.

“We are about to get a tax benefit as our U.S. corporate tax rate goes from 35 percent to 21 percent. In considering how to best spend that, we wanted to find a way to help grow our economy, which in turn, will help grow our business, and give some of the tax savings back to those hardworking employees who do not get the opportunity to participate in our salaried incentive plans,” said Jim Fish, president and chief executive officer, Waste Management.

“So, we are offering each North American hourly full-time employee and salaried employee who does not participate in any sales incentive or bonus plan during 2018, a cash bonus of US $2,000 to show our appreciation to so many of our valued employees while growing our business and returning a good portion of the tax savings directly to the overall economy,” he continued. – Jan. 10 2018, Waste Management Inc. press release excerpt

Chipotle Mexican Grill (Multiple locations in Washington, D.C.) - Bonuses ranging from $250 to $1,000; increased employee benefits; $50 million investment in existing restaurants.

U-Haul (Multiple locations in Washington, D.C.) - $1,200 bonuses for full-time employees, $500 for part-time employees.

FedEx (Multiple locations in Washington, D.C.) – Accelerated and increased compensation; pension plan contributions:

FedEx Corporation is announcing three major programs today following the recently enacted U.S. Tax Cuts and Jobs Act:

• Over $200 million in increased compensation, about two-thirds of which will go to hourly team members by advancing 2018 annual pay increases by six months to April 1st from the normal October date. The remainder will fund increases in performance- based incentive plans for salaried personnel.
• A voluntary contribution of $1.5 billion to the FedEx pension plan to ensure it remains one of the best funded retirement programs in the country.
• Investing $1.5 billion to significantly expand the FedEx Express Indianapolis hub over the next seven years. The Memphis SuperHub will also be modernized and enlarged in a major program the details of which will be announced later this spring.

FedEx believes the Tax Cuts and Jobs Act will likely increase GDP and investment in the United States. -- Jan. 26 2018, FedEx press release

McDonald’s (25+ locations in Washington, D.C.) – Increased tuition investments which will provide educational program access for 400,000 U.S. employees. $2,500 per year (up from $700) for crew working 15 hours a week, $3,000 (up from $1,050) for managers, and more:

McDonald’s Corporation today announced it will allocate $150 million over five years to its global Archways to Opportunity education program. This investment will provide almost 400,000 U.S. restaurant employees with accessibility to the program as the company will also lower eligibility requirements from nine months to 90 days of employment and drop weekly shift minimums from 20 hours to 15 hours. Additionally, McDonald’s will also extend some education benefits to restaurant employees’ family members. These enhancements underscore McDonald’s and its independent franchisees’ commitment to providing jobs that fit around the lives of restaurant employees so they may pursue their education and career ambitions.

The Archways to Opportunity program provides eligible U.S. employees an opportunity to earn a high school diploma, receive upfront college tuition assistance, access free education advising services and learn English as a second language.  

“Our commitment to education reinforces our ongoing support of the people who play a crucial role in our journey to build a better McDonald’s,” said Steve Easterbrook, McDonald’s President and CEO. “By offering restaurant employees more opportunities to further their education and pursue their career aspirations, we are helping them find their full potential, whether that’s at McDonald’s or elsewhere.”

Accelerated by changes in the U.S. tax law, McDonald’s increased investment in the Archways to Opportunity Program includes:

• • Increased Tuition Investment:
    • Crew: Eligible crew will have access to $2,500/year, up from $700/year.
    • Managers: Eligible Managers will have access to $3,000/year, up from $1,050.
    • Participants have a choice for how they apply this funding – whether it be to a community college, four year university or trade school. There is no lifetime cap on tuition assistance – restaurant employees will be able to pursue their education and career passions at their own pace. The new tuition assistance is effective May 1, 2018 and retroactive to January 1, 2018.
  • Lowered Eligibility Requirements: Increase access to the program by lowering eligibility requirements from nine months to 90 days of employment. In addition, dropping from 20 hours minimum to 15 hours minimum (roughly two full time shifts) per week to enable restaurant employees more time to focus on studies.
  • Extended Services to Families: Extension of Career Online High School and College Advisory services to restaurant employees’ family members through existing educational partners Cengage and Council for Adult and Experiential Learning (CAEL).
  • Additional Resources: Career exploration resources for eligible restaurant employees to be available later this year.
  • Creation of an International Education Fund: Grants to provide local initiatives and incentives in global markets to further education advancement programs.
     

“Since its inception, Archways to Opportunity was meant to match the ambition and drive of restaurant crew with the means and network to help them find success on their own terms,” said David Fairhurst, McDonald’s Chief People Officer. “By tripling tuition assistance, adding education benefits for family members and lowering eligibility requirements to the equivalent of a summer job, we are sending a signal that if you come work at your local McDonald’s, we’ll invest in your future.”

After launching in the U.S. in 2015, Archways to Opportunity has increased access to education for over 24,000 people and awarded over $21 million in high school and college tuition assistance. Graduates have received college degrees in Business Administration, Human Resources, Communications, Accounting, Microbiology and more. – March 29, 2018 McDonald’s Corporation press release excerpt 

Wells Fargo (22 locations in Washington D.C.) - Raised base wage from $13.50 to $15.00 per hour; $400 million in charitable donations for 2018; $100 million increased capital investment over the next three years.

Note: If you know of other Washington D.C. examples, please email John Kartch at jkartch@atr.org 

The running nationwide list can be found at www.atr.org/list

Thanks to the Tax Cuts and Jobs Act enacted by congressional Republicans and President Trump, 90 percent of American wage earners have higher take-home pay. And employers of all sizes are hiring, raising pay, increasing benefits, upgrading equipment and expanding operations.

Below are several examples of tax reform good news in Alabama. (Additions to this list can be sent to jkartch@atr.org)

Overseas Hardwoods Company (Stockton, Alabama) -- $1,000 tax reform bonuses to employees.

Sabel Steel (Montgomery, Alabama) - Expanding facilities, hiring new employees, pay increases for current employees:

Montgomery, Alabama’s, Sabel Steel is investing heavily in expanding its facilities—which means new jobs, new investment and large pay raises for most of its 230 employees across the South.

“When you’re a business, there are a lot of things to consider,” said Keith Sabel, president and CEO of Sabel Steel. “Taxes are a large part of it.”

Because the tax rate for companies like Sabel Steel—a family-owned steel distributor—has been lowered under tax reform, Sabel is able to maximize the benefits for his company.

First on the list? Rewarding the employees who work hard every day to make Sabel Steel successful.

“We gave a raise to everyone across the board,” said Sabel. “We improved everyone’s pay. We have incentives for as many workers as possible. If they meet or beat expectations, we’re making sure they’re rewarded.”

“We have quality perks,” Sabel added. “Good insurance. Good benefits. We’re constantly trying to improve, and now we’re able to. Morale is very good. We’re a family business, and we run it like a family business—where we take the time to get to know people, their families. I try to look out for my employees all the time.”

But Sabel Steel’s current employees aren’t the only ones who will benefit from tax reform and the booming economy. Sabel Steel also plans to reinvest its tax reform savings in its business by expanding and upgrading facilities in Newnan, Georgia, and Baton Rouge, Louisiana, and adding new equipment that will make its facilities more productive and innovative. Sabel also cites a new plasma machine it purchased for its plant in Theodore, Alabama—a machine that offers smoother and more efficient steel-cutting techniques. It also plans to make further upgrades to its equipment as needed.

To staff the expanded and upgraded facilities, Sabel Steel plans to hire more workers. Its recruitment effort focuses on talent, passion and integrity because Sabel Steel knows that, by starting with solid employees, it can train them on-site and equip them with the skills to do the jobs that the company needs. - July 11, 2018,  National Association of Manufacturers article excerpt

Cogent Building Group (Point Clear, Alabama) – $2,000 bonuses for all four employees.

American Proteins Inc. (Hanceville, Alabama)— $1,000 bonuses:

“American Proteins Inc. based in Cumming has 700 employees at its operations in Georgia and Alabama. It announced it would give employees $1,000 bonuses "in response to the tax reform package signed into law earlier this year."

"President Donald Trump and the Republican Congress have reduced taxes for businesses and individuals and I'm excited what this means for our company and its employees," American Proteins Inc. Chairman Tommy Bagwell said in a statement Feb. 5.” – Feb. 26 2018, Atlanta Business Chronicle article excerpt

Otelco (Oneonta, Alabama) — $500 bonuses for all employees:

The Tax Cut and Jobs Act, enacted in December 2017, affects Otelco’s taxes in 2017, as well as future tax years. Bonus depreciation was increased from 50% to 100%, beginning in 2017, with the Company realizing a benefit of over $0.6 million in fourth quarter 2017. The reduced maximum tax rate has also lowered the Company’s deferred tax liabilities and is reflected in an income tax benefit, raising net income for the quarter and year. “We recently announced to our employees that everyone would be receiving a special bonus of $500,” commented Rob Souza, President and CEO of Otelco. “Coupled with the lower tax withholding rate that most employees should experience, everyone should start 2018 with more take home pay. — March 5, 2018 Otelco statement

Alabama Power (Birmingham, Alabama) – The utility is passing along tax savings to customers:

Alabama Power Company customers will see a reduction in their bills because of the federal income tax cut approved by Congress last year, the Public Service Commission announced at its monthly meeting today.

The reduction in 2018 will be for $257 million, about a 9 percent cut, the PSC said.

The cut requires no action by the PSC, which regulates Alabama Power.

The reduction takes effect in July and continues through December.

The Tax Cuts and Jobs Act, signed into law in December, reduced the federal corporate income tax rate from 35 percent to 21 percent effective Jan. 1, 2018.

The three commissioners, all Republicans, said it was good to see consumers benefit from the tax cuts promoted and signed into law by President Trump.

"This is a great day for Alabama consumers and taxpayers," Commission President Twinkle Andress Cavanaugh said.

The commission approved two requests from Alabama Power related to the income tax cut.

One would allow the company to apply up to $30 million of excess federal deferred income taxes this year to Energy Cost Recovery, a factor in rate-setting.

The other request from Alabama Power was to make several changes to the PSC's method of setting rates, called Rate Stabilization and Equalization, or RSE. The PSC said the changes would enable Alabama Power "to mitigate the credit quality impacts" resulting from the Tax Cuts and Jobs Act and preserve rate stability for customers. The changes would allow Alabama Power to increase the equity share of its capital investment, the PSC said.

In conjunction with that second request, Alabama Power committed to no increases in its base rates through 2020 and to credit customers $50 million next year, the PSC said. – May 1, 2018 AL.com article excerpt

Protective Life Corporation (Birmingham, Alabama) -- Base wage raised to $15 per hour; $1,000 bonuses for 75% of employees:

Recognizing the benefits it will receive as a result of the recent passage of federal tax reform, Protective has committed to:

• Paying a special $1,000 bonus to approximately 75% of its employees
• Establishing a minimum wage across its employee base of $15/hour -- Feb. 13, 2018 Protective Life Corporation statement
   

Russell Lands (Alexander City, Alabama) -- $500 bonuses for about 400 full-time non-management staff:

Russell Lands, the largest lakeside residential developer in the state, has given full-time employees a $500 check.

“We are thrilled that our company is strong, the economy is good, and that our national leaders recently approved a tax plan that should be very positive for all of us,” said Chairman Ben Russell. “This is a token of the company’s, and my personal, genuine appreciation for what our folks have done to make Russell Lands such a great company. It’s because of our employees’ efforts that we have been able to accomplish so much."

Non-management-level employees who had been with the company since July 1 were given the checks this week – almost 400 in all. – Jan. 12 2018, Birmingham Business Journal article excerpt

Great Southern Wood Preserving, Inc. (Abbeville, Alabama) -- Significantly increased employee benefits: lower healthcare costs, more paid time off, scholarships, and more:

Great Southern Wood Preserving, Incorporated, has begun an active and ongoing process to increase employee benefits by reinvesting its tax savings in its people, the company has announced. The company expects full implementation to take place in 2018.

In late 2017, Congress passed and the President signed into law legislation providing significant tax breaks for corporations. Across America, many companies have chosen a variety of options for applying these savings, such as providing one-time bonuses to employees, increasing charitable giving and reinvesting in facilities upgrades.

For its part, Great Southern Wood will make investments on an ongoing basis to lower healthcare costs for eligible employees, allow employees to accrue more paid time off based on length of service, develop scholarships for dependents of employees and enhance other benefits going forward.

“I’m very pleased that every employee across the company will see the results of the change in tax laws,” said Jimmy Rane, Great Southern Wood’s founder, president and CEO. “The success we’ve enjoyed as a company comes from every one of us working hard and doing our part, and I can’t think of a better way to apply our tax savings than by further investing in benefits programs for our employees. We strive to be an employer that draws the best and brightest to our company, and we believe that providing stronger benefits is essential to this continuing effort.”

Great Southern employs almost 1,200 at locations in eleven states. [Texas, Missouri, Arkansas, Georgia, Alabama, Mississippi, Louisiana, Pennsylvania, Virginia, Maryland, Florida] -- March 29, 2018 Great Southern Wood Preserving, Inc. press release

Regions Financial Corporation (Birmingham, Alabama) – base wage increase to $15 per hour; $40 million in charitable donations; $100 million in capital expenditures:

“Regions is making these investments in anticipation of the savings it will recognize as a result of federal tax reform intended to support economic growth.” – Regions Financial Corporation press release

DTI Partners Inc. (Mobile, Alabama) -- $1,000 bonus to full-time employees; $300 bonus to part-time employees:

“The tax bill was the primary reason we were able to do this as a company. The bonuses were a great morale booster.  We are a very small company but we believe this will help us grow in the long run.” -- Message from CEO Tom Busby

Xante Corporation (Mobile, Alabama) -- $1,200 bonuses:

Mobile-based Xante Corp. handed out $1,200 bonus checks to most of its employees on Monday, as its CEO gave thanks to a Republican tax reform bill and Rep. Bradley Byrne.

Xante provides high-end printers and related software for use by professional graphics and printing operations. It employs a little over 100 people in Mobile and about 15 more in Europe. CEO Robert Ross said Monday that anyone who'd been with the company for a year or more was getting a $1,200 bonus, while those employed less than a year were getting a different amount.

Mobile employees whooped and cheered as Ross announced the windfall Monday morning. They also heard Ross explain that the company had additional plans for money saved as a result of tax cuts passed by Congress and signed into law by President Donald Trump in December. Among other changes, the tax bill significantly lowered the corporate tax rate. – Feb. 19, 2018 AL.com article excerpt

T.J. Maxx – 25 stores in Alabama – tax reform bonuses, retirement plan contributions, parental leave, enhanced vacation benefits, and charitable donations:

The 2017 Tax Act benefited the Company in the fourth quarter and full year Fiscal 2018. The Company expects to continue to benefit from the 2017 Tax Act going forward, primarily due to the lower U.S. corporate income tax rate. As a result of the estimated cash benefit related to the 2017 Tax Act, the Company is taking the following actions:

Associates

• A one-time, discretionary bonus to eligible, non-bonus-plan Associates, globally
• An incremental contribution to the Company’s defined contribution retirement plans for eligible Associates in the U.S. and internationally
• Instituting paid parental leave for eligible Associates in the U.S.
• Enhancing vacation benefits for certain U.S. Associates

Communities

• Made meaningful contributions to TJX’s charitable foundations around the world to further support TJX’s charitable giving. – Feb. 28, 2018 The TJX Companies Inc. press release excerpt

AT&T -- 5,071 Alabama-based AT&T employees received $1,000 bonuses. The company also announced a $1 billion increase in nationwide capital expenditures.

Walmart – 144 retail locations in Alabama -- Over 22,000 Alabama-based Walmart and Sam's Club employees are receiving wage increases as well as tax reform bonuses ranging from $200 - $1,000 for a state total of $37,111,483. The starting wage rate was raised for all hourly employees to $11. The company also announced expanded maternity and parental leave and $5,000 for adoption expenses.

Apple (Apple store locations in Birmingham and Huntsville) -- Alabama-based Apple employees received $2,500 bonuses in the form of restricted stock units. Nationally, $30 billion in additional capital expenditures; 20,000 new employees will be hired; increased support of coding education and science, technology, engineering, arts, and math; increased support for U.S. manufacturing.

BancorpSouth Bank (30 branch locations in Alabama) – pay raises for over 70 percent of employees; $1,000 bonuses for nearly 20 percent of employees: 

BancorpSouth Bank today announced an additional investment in its employees, which includes pay increases and /or one-time bonuses to nearly all non-commissioned employees.

The investment of over $10 million in 2018 will benefit 96% of the Company's non-commissioned workforce. Pay increases were effective January 1, 2018.

"We are proud to reward our team with this opportunity since the Tax Cuts and Jobs Act should benefit everyone" said Dan Rollins, Chairman and CEO. "BancorpSouth's continued and future success is based on the economic vitality of the communities we serve and taking care of our teammates allows us to provide the very best service to our customers, communities and shareholders." – Jan. 3, 2018 BancorpSouth Bank press release

-----------------------

The increased compensation overall at BancorpSouth affected more than 70 percent of all employees, and provided a $1,000 bonus to nearly 20 percent of all employees.

BancorpSouth employs some 4,000 employees in more than 230 locations in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas, plus an insurance location in Illinois. – Jan. 4, 2018 Daily Journal/BizBuzz article

Home Depot -- 28 locations in Alabama, bonuses for all hourly employees, up to $1,000:

"This incremental investment in our associates was made possible by the new tax reform bill." -- Jan. 25, 2018 Home Depot press release

Cintas Corporation (Multiple locations in Alabama) -- $1,000 bonuses for employees of at least a year, $500 for employees of less than a year.

Comcast (Multiple locations in Alabama) -- $1,000 bonuses; nationally, at least $50 billion investment in infrastructure in next five years.

Chipotle Mexican Grill (Multiple locations in Alabama) – Bonuses ranging from $250 to $1,000; increased employee benefits; nationally, $50 million investment in existing restaurants.

Ryder (Seventeen locations in Alabama) -- Tax reform bonuses for employees.

Starbucks Coffee Company (Multiple locations in Alabama) – $500 stock grants for all retail employees, $2,000 stock grants for store managers, and varying plan and support center employee stock grants. Nationally, 8,000 new retail jobs; an additional wage increase this year, totaling approximately $120 million in wage increases, increased sick time benefits and parental leave. 

U-Haul (Multiple locations in Alabama) – $1,200 bonuses for full-time employees, $500 for part-time employees.

Wells Fargo – 125 bank locations in Alabama; raised base wage from $13.50 to $15.00 per hour; nationally, $400 million in charitable donations for 2018; $100 million increased capital investment over the next three years.

Note: If you know of other Alabama examples, please email John Kartch at jkartch@atr.org

The running nationwide list of companies can be found at www.atr.org/list

Thanks to the Tax Cuts and Jobs Act enacted by congressional Republicans and President Trump, 90 percent of American wage earners have higher take-home pay. And employers of all sizes are hiring, raising pay, increasing benefits, upgrading equipment and expanding operations.

Below are several examples of tax reform good news in Minnesota. (Additions to this list can be sent to jkartch@atr.org)

Industrial Weldors & Machinists (Duluth, Minnesota) - Investing in employee pensions, hiring new employees:

“This is an American success story of generations,” Pence said of IWM, a third-generation family business that gets 70 percent of its work by rebuilding massive rock crushers used to extract taconite iron ore on the Iron Range.

Trump tax cuts helped the business and its employees, Pence said — including thousands of dollars in investments by the company into IWM employee pensions earlier this year.

“That’s what it’s all about,” Pence said.

It was an easy fact to check after the vice president’s remarks. All four sibling owners of the company were on hand — Dawn Bergh and her brothers Rick, Rob and Randy Abernethy. Bergh confirmed the pension investments for the company’s 32 employees.

“The boilermakers’ pension is in the toilet,” Bergh said. “They’re worried about it. We wanted to give them something that would keep them around. It’s really hard to get employees. We’re hiring right now for both a welder and a machinist.” - August 8, 2018, Twin Cities Pioneer Press article excerpt

3M Company (Maplewood, Minnesota) – the company increased employee pension contributions by $600 million:

3M said its tax rate under the new "Tax Cuts and Jobs Act" will fall to 20 percent to 22 percent in 2018, down from a prior rate of 26 percent to 27 percent. Executives said they will use the savings to boost returns for shareholders, increase pension reserves and to invest in the company. – Jan. 25, 2018 Star Tribune article excerpt

In 2017, free cash flow conversion was impacted by enactment of the TCJA, along with an additional U.S. pension contribution of $600 million that 3M made following the signing of tax reform. – 3M Annual Report for the fiscal year ending December 31, 2018

Priority Courier Experts (St. Paul, Minnesota) – tax reform bonuses were given on Jan. 2, 2018 to employees; further, employees will receive another $500 bonus in 2018 on the anniversary of their hire date:

Priority Courier Experts paid a “TRUMP BUMP” to each of its 80 employees on their January 2nd, 2018 paycheck. We also expanded the “TRUMP BUMP” to pay each employee a $500 bonus on their hire anniversary date in 2018, and our hope for the future is to make the “TRUMP BUMP” Bonus permanent. – Steve Cossack, Founder/CEO, Priority Courier Experts

Minnesota Power (Duluth, Minnesota) – the utility will pass tax cut savings to customers:

"When final rates go into effect late this year, customers will start receiving a 1.5259% credit on their monthly bill through a new line item, called the tax cut rider, totaling about $10 million a year refund until our next rate case," Rutledge said.

For a $100 power bill, that's about $1.53 returned - Aug 10, 2018, Duluth News Tribune article excerpt

Circuit Interruption Technology Inc. -- CIT Relay & Switch (Rogers, Minnesota) – One week of extra pay added to final 2017 paycheck; hiring of new employees, growing the staff by 10 percent:

Circuit Interruption Technology Inc. dba CIT Relay & Switch manufactures and distributes electromechanical relays and switches to the electronics, security, HVAC, appliance and automotive industries. Employees were notified just before Christmas of one extra week pay added to their final year end check as a result of the new tax reform measure. Due to the positive atmosphere created by the passage of the tax bill Company profit sharing combined with normal 401K contributions amounted to an additional 5% per employee for 2017. CIT has added 10% to our staff thus far in January 2018 and more additions are expected. – Rick Hampton, CIT Relay & Switch

Albert Lea Public Warehouse (Albert Lea, Minnesota) – $2,000 bonuses for all 12 employees:

Albert Lea business leaders said the recently passed tax bill is helping them invest in their organizations.

The tax bill passed in December cut the top federal tax rate to 21 percent from 35 percent, likely putting billions of dollars in the pockets of major Minnesota companies.

Albert Lea Public Warehouse Owner Al Larson gave each of his 12 employees a $2,000 bonus, which he said would not have been possible without reduced rates. He said he decided to pay the bonuses in January to help the workers pay off costs incurred during the Christmas season.

“I just distributed it back to them,” he said.

In addition to bonuses, Larson is installing two roofs and investing in new dock levelers.

Larson said he prefers investing company revenue locally instead of contributing more of a percentage to the federal government. – Jan. 30 Albert Lea Tribune article

Otter Tail Power Co. (Fergus Falls, Minnesota) – the utility will pass along tax reform savings to customers.

Koch Companies Inc. (Minneapolis, Minnesota) – increased driver wages; increased sign on bonuses:

Raised driver pay to 41 cents to 45 cents per mile and the maximum sign-on bonus to $7,000 from $5,000 prior to late December.

“Rate increases and benefits from the recent tax law reform have allowed us to re-evaluate our current driver pay to make sure we are putting money back in the pockets of our greatest asset — the driver,” CEO Randy Koch said – Feb. 12 2018, Transport Topics article excerpt

Xcel Energy Minnesota (Minnesota) - The utility will pass tax cut savings along to customers:

About six months ago, Xcel Energy announced its Minnesota customers would receive a rebate because of a federal tax cut. In Minnesota, $200 million was returned to customers through a one-time credit on their bills. A typical Minnesota electricity customer who pays $85 to $90 a month received a credit of about $45. – February 8, 2019, Inforum article excerpt

U.S. Bancorp (Minneapolis, Minnesota) – $1,000 bonuses for 60,000 employees; base wage hike to $15 per hour; $150 million charitable contribution:

“We believe that tax reform is positive for the U.S. economy because it provides an immediate opportunity to benefit our employees, our communities and our customers.” – Andy Cecere, President and CEO

Northern States Power (Minneapolis, Minnesota) – The utility will pass along tax cut savings to customers:

The Michigan Public Service Commission (MPSC) today approved settlement agreements with seven utilities to pass on to ratepayers their savings from the federal tax law rewrite, beginning in July. Three other utilities had no impact from the changes.

Filings were approved for Alpena Power Co., DTE Gas Co., Michigan Gas Utilities Corp., Northern States Power, SEMCO Energy Gas Co., and Upper Michigan Energy Resources Corp. (UMERC).

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"Through swift action by the Commission, Michigan ratepayers will experience millions of dollars in refunds on their utility bills starting this summer due to changes in federal corporate income taxes," said Sally Talberg, chairman of the MPSC. “Utilities are benefiting from the tax cuts and their customers should, too.” – May 30, 2018 LARA Public Service Commission Press Release excerpts

Bio-Techne (Minneapolis, Minnesota) -- $500 bonuses for all 1,650+ employees:

Many of you, particularly in the U.S., have probably been keeping up with the news the past few months on U.S. tax reform. With the passage of the bill in Congress yesterday and the President’s signature, the new tax law is now official. How does this affect our company? A lot. Our current corporate income tax levels average between 29% and 31%. With this new tax law, over the next year our tax rates will drop to levels potentially as low as 21%. We don’t know the total answer yet because the law is complicated, and includes tax calculations from other countries where we do business as well. What I can tell you is that we are likely to pay substantially less taxes in the U.S. and overall.  

There has been extensive media coverage here in the U.S. on what companies will do with these gains. The U.S. Government’s primary goal for the new law is that companies will use the additional monies to invest in growth, and not simply to benefit shareholders through a dividend increase or share buyback. I am happy to tell you that we will use the savings to invest in our company and in you. We will use the funds to continue our investment in the company through expansion and acquisitions. But we also want to invest in our employees. Our board of directors has approved a recommendation to pay a bonus of US $500 to every employee globally. The bonus will be paid to all employees employed as of December 31, 2017 (other than the Corporate Leadership Team) and will be included in a January 2018 payroll.  Management and the Board value each of you and your contributions, and this bonus is one way we wish to show our appreciation for your contributions to our strong business performance and excellent execution.  

I look forward to working with all of you to create great future of continued growth for Bio-Techne.  On behalf of the entire management team, thank you. – Dec. 21, 2017 special message to employees from Bio-Techne CEO Chuck Kummeth

Best Buy (Richfield, Minnesota) -- $1,000 bonuses for full-time employees; $500 bonuses for part-time employees. Over 100,000 employees nationwide will receive bonuses:

Best Buy is the latest major corporation to hand out bonuses to its employees as a result of the recently passed corporate tax reform.

In a letter sent to employees Friday afternoon, CEO Hubert Joly said full-time employees will receive a one-time bonus of $1,000 and part-time employees $500.

All permanent employees who are not on an existing bonus plan will receive the additional funds. The bonuses are expected to show up in their paychecks this month.

In all, more than 100,000 of Best Buy’s 125,000 employees in the U.S., Mexico and Canada are slated to receive the extra payouts.

In addition, Best Buy is making a one-time contribution of $20 million to the Best Buy Foundation to help further expand its teen tech centers and Geek Squad Academies across the U.S.

“Our goal was simple: to say ‘thank you’ to more than 100,000 of our employees and help accelerate our work to bring much needed technology training to 1 million underserved teens a year,” said Jeff Shelman, a Best Buy spokesman.

In recent days, other major retailers including Lowe’s, Home Depot and Walmart have also said they will hand out bonuses, expand benefits, and raise wages of its workers in light of the tax reform.

In Minnesota, U.S. Bancorp and TCF Financial also are handing out bonuses to workers and increasing charitable donations. U.S. Bank also said it would raise the minimum wage of its hourly employees to $15.

Among other changes, the new tax law cut the top federal tax rate for corporations from 35 percent to 21 percent.”—Feb. 2 2018, Minneapolis Star Tribune

Hormel Foods Corp. (Austin, Minnesota) – Stock options for employees; increased base wage to $13 per hour:

Hormel Foods Corp. this morning announced that it plans to use savings from the federal Tax Cuts and Jobs Act to award stock options to its employees and raise starting wages to $13 an hour. — Feb. 22, 2018 Post-Bulletin article excerpt

TCF Financial Corporation (Wayzata, Minnesota) -- $1,000 bonuses for full time employees; $500 bonuses for part time employees (exact number receiving bonus unknown at this time):

“As a result of the Tax Cuts and Jobs Act, TCF will provide approximately $5 million in one-time bonuses to eligible team members—$1,000 to full-time team members and $500 to part-time team members—who earned less than $100,000 in total compensation during 2017, totaling 80 percent of its workforce. Additionally, TCF will donate $5 million to TCF Foundation to increase grants to nonprofit organizations in the communities it serves, including increasing its match of team member contributions to nonprofit organizations from 100 percent to 200 percent in 2018.” – Friday Dec. 29, 2017 TCF Financial Corporation press release

Data Sales Co., Inc. (Minneapolis, Minnesota) – $1,000 bonuses for all 80 employees:

Data Sales Co., Inc. announced today that the Company will celebrate the recent passage of tax reform legislation by distributing to all 80 plus employees a special bonus of $1,000 each. Data Sales Co. will benefit from the new tax law lowering the corporate tax rate from 35 percent to 21 percent:

“Our hard-working employees make this company succeed, and we wanted them to share in the savings the company will see and also help grow our economy. Today I’m announcing that every employee will receive a cash bonus of $1,000 each,” said Paul Breckner, President of Data Sales Co. “I also want to thank our local Congressman, Jason Lewis, for his consistent advocacy of tax reform and seeing it through to becoming law. With the majority of our 80+ strong workforce here in Burnsville, I’m pleased that the benefits of tax reform will be felt at home.”

Background on tax reform bonuses and Data Sales Co.:
All employees, whether full-time or part-time, hourly, salaried, commission or non-commission will receive the bonus to show our appreciation and heartfelt thanks for their service. We believe this tax reform will be good for Data Sales, spur economic growth, continue to grow jobs and keep unemployment at an all-time low. – Jan. 22, 2018 Data Sales Co., Inc. press release

DTN (Burnsville, Minnesota) -- DTN an independent provider of information and actionable insights in the areas of agriculture, transportation and energy, and publisher of The Progressive Farmer, gave $1,000 bonuses to nearly 700 employees.

Ecolab Inc. (St. Paul, Minnesota) – $25 million in charitable donations:

In response to the passage of the new U.S. tax law, Ecolab announced its intent to make a $25 million contribution to the Ecolab Foundation. Since 1986, the Ecolab Foundation has contributed more than $100 million to communities in which we do business by providing basic needs, including hunger relief and affordable housing; supporting education, the arts and environmental conservation; as well as providing support to global relief organizations during times of natural disasters. – Jan. 23, 2018 Ecolab Inc. press release

T.J. Maxx – 16 stores in Minnesota – tax reform bonuses, retirement plan contributions, parental leave, enhanced vacation benefits, and charitable donations:

The 2017 Tax Act benefited the Company in the fourth quarter and full year Fiscal 2018. The Company expects to continue to benefit from the 2017 Tax Act going forward, primarily due to the lower U.S. corporate income tax rate. As a result of the estimated cash benefit related to the 2017 Tax Act, the Company is taking the following actions:

Associates

• A one-time, discretionary bonus to eligible, non-bonus-plan Associates, globally
• An incremental contribution to the Company’s defined contribution retirement plans for eligible Associates in the U.S. and internationally
• Instituting paid parental leave for eligible Associates in the U.S.
• Enhancing vacation benefits for certain U.S. Associates.

Communities

• Made meaningful contributions to TJX’s charitable foundations around the world to further support TJX’s charitable giving. – Feb. 28, 2018 The TJX Companies Inc. press release excerpt

Apple (There are five Apple stores in Minnesota: Bloomington, Edina, Minneapolis, Minnetonka, Roseville) -- $2,500 employee bonuses in the form of restricted stock units; nationally, $30 billion in additional capital expenditures over five years; 20,000 new employees will be hired; increased support of coding education and science, technology, engineering, arts, and math; increased support for U.S. manufacturing.

AT&T -- 1,592 Minnesota employees received $1,000 bonuses; nationally, $1 billion increase in capital expenditures.

Bank of America (Multiple locations in Minnesota) -- $1,000 bonuses.

Chipotle Mexican Grill (Multiple locations in Minnesota) – Bonuses ranging from $250 to $1,000; increased employee benefits; nationally, $50 million investment in existing restaurants.

Cintas Corporation (Multiple locations in Minnesota) -- $1,000 bonuses for employees of at least a year, $500 bonuses for employees of less than a year.

CVS Health (Multiple locations in Minnesota) -- Base wage raised to $11 per hour, and other pay ranges adjusted accordingly; company will absorb increases costs of health insurance premiums; creation of new parental leave program.

Comcast (Multiple locations in Minnesota) -- $1,000 bonuses; nationally, at least $50 billion investment in infrastructure in next five years.

Home Depot (Multiple locations in Minnesota) -- Bonuses for all hourly employees, up to $1,000

Lowe's -- 1,000 employees at 11 stores in Minnesota. Bonuses of up to $1,000 based on length of service; expanded benefits and maternity/parental leave; $5,000 of adoption assistance.

Ryder (Six locations in Minnesota) – Tax reform bonuses for employees totaling $23 million nationwide.

Taco John’s (62 locations in Minnesota): All full-time and part-time crew members received a $200 after-tax bonus:

Taco John’s International, Inc. announced today that in response to the 2018 Tax Cut and Jobs Act, the company gave part of its projected tax savings to its restaurant crews, general managers, corporate staff and CORE (Children of Restaurant Employees).

On Friday, Feb. 23, Taco John’s International, Inc.’s employees received a one-time bonus, as follows:

• Every restaurant crew member - full-time and part-time - received $200 (after taxes);
• General managers and employees at the Taco John’s Franchisee Support Center in Cheyenne received $1,000 each; and,
• The Executive Council of Taco John’s International, Inc. (Vice Presidents and above) donated their $1,000 bonuses (a total of $10,000) to CORE, a national not-for-profit organization that grants support to children of food and beverage service employees who are navigating life-altering circumstances.
   

“At Taco John’s International, our team is our family, so sharing the financial benefits that were a result of the recent tax reform legislation only makes sense,” said Jim Creel, CEO of Taco John’s International, Inc. “We encourage other restaurant brands to follow our example and give a portion of their savings to the people that are at the heart of what we do and to great organizations like CORE that support our crew. One hundred percent of CORE’s funds directly benefit children of restaurant employees who have been afflicted with life-threating conditions.”

“We are so grateful to the Taco John’s team for their generous donation to our CORE family members,” said Lauren LaViola, executive director of CORE. “Donations like theirs help us provide for our food and beverage service families experiencing loss, illness and other life-changing circumstances, and help us get closer to our goal of helping even more families across all 50 states in 2018.”

The total amount that Taco John’s International, Inc. gave exceeded $150,000.00. – Feb. 28, 2018 John’s International, Inc. press release

Starbucks Coffee Company (Multiple locations in Minnesota) – $500 stock grants for all Starbucks retail employees, $2,000 stock grants for store managers, and varying plant and support center employee stock grants, totaling more than $100 million in stock grants nationwide; 8,000 new retail jobs and 500 new manufacturing jobs; an additional wage increase this year, totaling approximately $120 million in wage increases, increased sick time benefits and parental leave.

U-Haul (Multiple locations in Minnesota) – $1,200 bonuses for full-time employees, $500 bonuses for part-time employees.

Wal-Mart – 69 locations in Minnesota; Base wage increase for all hourly employees to $11; bonuses of up to $1,000; expanded maternity and parental leave; $5,000 for adoption expenses.

Waste Management, Inc. (Multiple locations in Minnesota) -- $2,000 bonuses.

Wells Fargo – 157 bank locations in Minnesota -- Base wage raised from $13.50 to $15.00 per hour; nationally, $400 million in charitable donations for 2018; $100 million increased capital investment over next three years.

Anthem (Multiple locations in Minnesota) -- Nationally, $1,000 in extra 401(k) contributions for 58,000 employees.

Note: If you know of other Minnesota examples, please email John Kartch at jkartch@atr.org

The running nationwide list of companies can be found at www.atr.org/list

Thanks to the Tax Cuts and Jobs Act enacted by congressional Republicans and President Trump, 90 percent of American wage earners have higher take-home pay. And employers of all sizes are hiring, raising pay, increasing benefits, upgrading equipment and expanding operations.

Below are several examples of tax reform good news in Iowa. (Additions to this list can be sent to jkartch@atr.org)

Geetings, Inc. (Pella, Iowa) -- Was able to purchase new semitrailers and give employees raises because of the Tax Cuts and Jobs Act.

When small business owners anticipated how much they would save in taxes under the federal Tax Cuts and Jobs Act, many reinvested those savings in their businesses and their employees. 

Lana Pol, who owns several small businesses including Geetings, Inc., a transportation firm in Pella, says she gave employees raises and purchased six new semitrailers. -- June 3, 2019 Des Moines Register

Smokey Row Coffee Shops (Des Moines, Iowa) --  Because of the Tax Cuts and Jobs Act, the company is planning to open two new stores.  

When small business owners anticipated how much they would save in taxes under the federal Tax Cuts and Jobs Act, many reinvested those savings in their businesses and their employees.

...

Butch Hayes, of Smokey Row Coffee Shops, is planning to open two new stores. -- June 3, 2019 Des Moines Register

Global Water Services (Lisbon, Iowa) -- Hired new employees and built a new warehouse because of the Tax Cuts and Jobs Act.

When small business owners anticipated how much they would save in taxes under the federal Tax Cuts and Jobs Act, many reinvested those savings in their businesses and their employees.

...

 The owner of Global Water Services in  Lisbon, Keith Huebner, built a new warehouse and added employees. -- June 3, 2019 Des Moines Register

Anfinson Farm Store (Cushing, Iowa) -- $1,000 bonuses and 5% pay raises for employees:

Anfinson Farm Store, a family business in Cushing, Iowa (population 223), has awarded $1,000 bonuses and raised wages 5% for all full-time employees as a result of tax reform. The good news was delivered to employees in person just after Christmas.

In an interview with Americans for Tax Reform, store owner John Anfinson said tax reform will boost “money that will be available for the business overall and I want to use it in the right places.”

Anfinson has helmed the store for about 45 years. His grandfather started the business as a general store in 1918, so they will soon celebrate 100 years of operation. His customers chiefly grow corn, soybeans, and alfalfa.

“For us, we have a small number of employees. I work every day shoulder to shoulder with everyone,” said Anfinson. “When you work every day with a group of people, you know them and their family and you appreciate everything they do. I value them and the interest they take in our customers. They are the most valuable asset in any business.” – Jan. 9, 2018 Americans for Tax Reform blog post

Keg Creek Brewing (Glenwood, Iowa) - Expanding operations, purchasing new equipment:

“A small brewery in Glenwood, Iowa, in Mills County called Keg Creek is expanding their operations and investing in new equipment as they grow.” - June 11, 2018, Rep. David Young statement on U.S. House Floor

Dyersville Die Cast (Dyersville, Iowa) - $200 bonus for all eligible full-time employees; $50 monthly bonus for at least twelve months for all eligible full-time employees; $150,000 in total on bonuses:

“Dyersville Die Cast employees will be getting bonuses thanks to the recently passed tax reform bill.

Full-time employees who were with the company prior to Oct. 1, 2017 will receive a $200 bonus on March 9. But, that’s not all.

All full-time, hourly employees will also be receiving $50 monthly bonuses for at least the next 12 months.

In addition, employees will still receive their regular “profit bonus” in June, according to General Manager Bob Willets.

The big news is thanks to that fact that Dyersville Die Cast is slated to save approximately $200,000 thanks to the new tax law, and have decided to dole out $150,000 of that to its workers” – Feb. 21 2018, Dyersville Commercial article excerpt

Pattison Sand Company (Clayton, Iowa): $600 cash bonuses, base pay raised by $1.50-$2.50 per hour:

“Last fall, Congressman Rod Blum visited our mine in Clayton County. He met many of our people and saw for himself what we do every day. We told him about the high costs of over-taxation and over-regulation. He listened. He did his part, taking our message back to Washington. He fought for real tax reform that will bring our business taxes in line with other industrialized countries. More importantly it will mean more take home pay for our people. He is also working put more common sense into federal regulations. We did our part too. We gave every employee a $600 cash (in $2 bills) bonus and we raised base pay by $1.50-$2.50 an hour. And yes we are growing, adding staff and buying more equipment. We thought you should know.” – The Waterloo- Cedar Falls Courier

Cedar Rapids Toyota (Hiawatha, Iowa) – $500 bonuses to each full-time employee:

The car dealership off Boyson Road in Hiawatha expects to see a savings on its taxes under the federal tax reform bill that taxes effect next month. Instead of investing in the facility or new equipment, the company invested in its people.

Owner Scott Ryan decided to give each full-time employee a $500 tax break. The company sees the bonus checks as a way to give back to both the employees and the community, thinking many of the employees will spend the extra money around town. – Jan. 19, 2018 KCRG TV9 news report

Employers Mutual Casualty Insurance (Des Moines, Iowa) -- $1,000 bonuses for employees with the exception of Vice Presidents and above.

Iowa American Water Co. (Davenport, Iowa) – The utility will pass along tax savings to customers:

And Iowa-American Water Co., which provides service in eastern Iowa, would provide $1.5 million and $1.8 million to customers. – Jan. 29, 2018 Des Moines Register article excerpt

MidAmerican Energy Company (Des Moines, Iowa) - the utility will pass along tax reform savings to customers:

Thanks to tax reform, utility bills will start going down soon. MidAmerican Energy says bills will be lowered for its Illinois customers starting in April, and probably for Iowa customers in May.

Spokeswoman Tina Hoffman says the company's tax rate dropped from 35 to 21 per cent, and as a result Illinois electric and natural gas customers will save about 50 dollars per year. The average Iowa customer would save 30 dollars.

But tax reform will affect more than just MidAmerican's corporate tax rate.

"And what we're proposing to do is create an account that captures these benefits that will help us in the long-term make sure that we reduce the size of even the need for future rate cases. So eventually that keeps rates low for customers well into the future."

Hoffman says the Illinois Commerce Commission has already approved the company's proposal and the savings should show up in residential bills this month. However the Iowa Utilities Board has not yet approved MidAmerican's proposal but she thinks it could lower Iowa bills beginning in May.  – April 2, 2018 WVIK Article

Ohnward Bancshares (Maquoketa, Iowa) -- $1,000 bonuses for all 260 employees:

"As a result of the passage of the tax relief bill this week, Ohnward Bancshares has   announced it will pay a $1,000 tax relief, holiday bonus to every company employee. This bonus is separate, and, in addition to, normal bonuses received based  on company performance. “There has been a lot of debate about what a tax cut will do for the nation’s economy. This sweeping tax reform will create economic growth in our communities, but only if the expense savings are shared”, comments the Ohnward leadership team, Abram Tubbs, Brigham Tubbs, Alan Tubbs and Kendra Beck."  –  Dec. 21 2017, Ohnward Bancshares press release

Bank Midwest (Spirit Lake, Iowa) -- $500 bonuses for full-time employees; $250 bonus for part-time employees.

T.J. Maxx – 11 stores in Iowa – tax reform bonuses, retirement plan contributions, parental leave, enhanced vacation benefits, and charitable donations:

The 2017 Tax Act benefited the Company in the fourth quarter and full year Fiscal 2018. The Company expects to continue to benefit from the 2017 Tax Act going forward, primarily due to the lower U.S. corporate income tax rate. As a result of the estimated cash benefit related to the 2017 Tax Act, the Company is taking the following actions:

Associates

• A one-time, discretionary bonus to eligible, non-bonus-plan Associates, globally

• An incremental contribution to the Company’s defined contribution retirement plans for eligible Associates in the U.S. and internationally

• Instituting paid parental leave for eligible Associates in the U.S.

• Enhancing vacation benefits for certain U.S. Associates

Communities

Made meaningful contributions to TJX’s charitable foundations around the world to further support TJX’s charitable giving. – Feb. 28, 2018 The TJX Companies Inc. press release excerpt

AT&T -- $1,000 bonuses to 541 Iowa employees; Nationwide, $1 billion increase in capital expenditures:

Today, Congress approved legislation representing the first comprehensive tax reform in a generation. The President is expected to sign the bill in the coming days.

Once tax reform is signed into law, AT&T* plans to invest an additional $1 billion in the United States in 2018 and pay a special $1,000 bonus to more than 200,000 AT&T U.S. employees — all union-represented, non-management and front-line managers. If the President signs the bill before Christmas, employees will receive the bonus over the holidays.

“Congress, working closely with the President, took a monumental step to bring taxes paid by U.S. businesses in line with the rest of the industrialized world,” said Randall Stephenson, AT&T chairman and CEO. “This tax reform will drive economic growth and create good-paying jobs. In fact, we will increase our U.S. investment and pay a special bonus to our U.S. employees.”

Since 2012, AT&T has invested more in the United States than any other public company. Every $1 billion in capital invested in the telecom industry creates about 7,000 jobs for American workers, research shows. -- Dec. 20, 2017 AT&T Inc. press release

Home Depot -- 10 locations in Iowa, bonuses for all hourly employees, up to $1,000

Lowe's -- 1,000 employees at 11 stores in Iowa. Employees will receive bonuses of up to $1,000 based on length of service; expanded benefits and maternity/parental leave; $5,000 of adoption assistance.

Apple (Apple store in West Des Moines) -- $2,500 employee bonuses in the form of restricted stock units; Nationwide, $30 billion in additional capital expenditures over five years; 20,000 new employees will be hired; increased support of coding education and science, technology, engineering, arts, and math; increased support for U.S. manufacturing.

Bank of America (Multiple locations in Iowa) -- Iowa-based employees of Bank of America will receive $1,000 bonuses.

Cintas Corporation (Multiple locations in Iowa) -- $1,000 bonuses for employees of at least a year, $500 bonuses for employees of less than a year.

Comcast (Multiple locations in Iowa) -- $1,000 bonuses; at least $50 billion investment in infrastructure in next five years.

Ryder (Eleven locations in Iowa) – Tax reform bonuses for employees totaling $23 million nationwide.

Starbucks Coffee Company (89 locations in Iowa) – $500 stock grants for all retail employees, $2,000 stock grants for store managers, and varying plant and support center employee stock grants. Nationally, 8,000 new retail jobs; an additional wage increase this year, totaling approximately $120 million in wage increases, increased sick time benefits and parental leave

U-Haul (Multiple locations in Iowa) – $1,200 bonuses for full-time employees, $500 for part-time employees.

Wal-Mart – 59 store locations in Iowa -- Walmart employees are receiving tax reform bonuses of up to $1,000; base wage increase for all hourly employees to $11; expanded maternity and parental leave; $5,000 for adoption expenses.

McDonald’s (165+ locations in Iowa) – Increased tuition investments which will provide educational program access for 400,000 U.S. employees. $2,500 per year (up from $700) for crew working 15 hours a week, $3,000 (up from $1,050) for managers, and more:

McDonald’s Corporation today announced it will allocate $150 million over five years to its global Archways to Opportunity education program. This investment will provide almost 400,000 U.S. restaurant employees with accessibility to the program as the company will also lower eligibility requirements from nine months to 90 days of employment and drop weekly shift minimums from 20 hours to 15 hours. Additionally, McDonald’s will also extend some education benefits to restaurant employees’ family members. These enhancements underscore McDonald’s and its independent franchisees’ commitment to providing jobs that fit around the lives of restaurant employees so they may pursue their education and career ambitions.

The Archways to Opportunity program provides eligible U.S. employees an opportunity to earn a high school diploma, receive upfront college tuition assistance, access free education advising services and learn English as a second language.  

“Our commitment to education reinforces our ongoing support of the people who play a crucial role in our journey to build a better McDonald’s,” said Steve Easterbrook, McDonald’s President and CEO. “By offering restaurant employees more opportunities to further their education and pursue their career aspirations, we are helping them find their full potential, whether that’s at McDonald’s or elsewhere.”

Accelerated by changes in the U.S. tax law, McDonald’s increased investment in the Archways to Opportunity Program includes:

• • Increased Tuition Investment:
    • Crew: Eligible crew will have access to $2,500/year, up from $700/year.
    • Managers: Eligible Managers will have access to $3,000/year, up from $1,050.
    • Participants have a choice for how they apply this funding – whether it be to a community college, four year university or trade school. There is no lifetime cap on tuition assistance – restaurant employees will be able to pursue their education and career passions at their own pace. The new tuition assistance is effective May 1, 2018 and retroactive to January 1, 2018.
  • Lowered Eligibility Requirements: Increase access to the program by lowering eligibility requirements from nine months to 90 days of employment. In addition, dropping from 20 hours minimum to 15 hours minimum (roughly two full time shifts) per week to enable restaurant employees more time to focus on studies.
  • Extended Services to Families: Extension of Career Online High School and College Advisory services to restaurant employees’ family members through existing educational partners Cengage and Council for Adult and Experiential Learning (CAEL).
  • Additional Resources: Career exploration resources for eligible restaurant employees to be available later this year.
  • Creation of an International Education Fund: Grants to provide local initiatives and incentives in global markets to further education advancement programs.
     

“Since its inception, Archways to Opportunity was meant to match the ambition and drive of restaurant crew with the means and network to help them find success on their own terms,” said David Fairhurst, McDonald’s Chief People Officer. “By tripling tuition assistance, adding education benefits for family members and lowering eligibility requirements to the equivalent of a summer job, we are sending a signal that if you come work at your local McDonald’s, we’ll invest in your future.”

After launching in the U.S. in 2015, Archways to Opportunity has increased access to education for over 24,000 people and awarded over $21 million in high school and college tuition assistance. Graduates have received college degrees in Business Administration, Human Resources, Communications, Accounting, Microbiology and more. – March 29, 2018 McDonald’s Corporation press release excerpt 

Wells Fargo – 64 bank locations in Iowa; raised base wage from $13.50 to $15.00 per hour; $400 million in charitable donations for 2018; $100 million increased capital investment over next three year

Note: If you know of other Iowa examples, please email John Kartch at jkartch@atr.org

The running nationwide list of companies can be found at www.atr.org/list