John Kartch

Pennsylvania Can't Afford Biden's Tax Increases

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Posted by John Kartch on Saturday, May 18th, 2019, 1:03 AM PERMALINK

 

Today at 1:00 p.m. Joe Biden will host a major rally in Philadelphia, where he will repeat his vow to repeal the Tax Cuts and Jobs Act.

“First thing I’d do is repeal those Trump tax cuts,” said Biden on May 4 in South Carolina.

"When I'm president, if God willing I am, we're going to reverse those Trump tax cuts," Biden said this week in New Hampshire.

Biden's promise to repeal the tax cuts is a threat to raise taxes. Repeal of the tax cuts would hit Pennsylvania hard:

  • Pennsylvania households would lose their tax cut -- a 24.5 percent tax cut on average, according to data reported by H&R Block.
     
  • Pennsylvania residents would again be forced to pay the highly regressive Obamacare individual mandate tax. 166,680 Pennsylvanians paid the tax totaling $108,842,000 according to the most recent IRS annual statistics ((2016). 81 percent of people hit with the tax made less than $50,000 a year, and 40 percent made less than $25,000 a year. This tax was one of the many violations by Biden of his pledge against any and all middle class taxes.
     
  • 840,000 Pennsylvania households who claim the Child Tax Credit would see the credit slashed in half from $2,000 to $1,000.
     
  • 4.4 million Pennsylvania households who claim the standard deduction would see it slashed in half. (TCJA nearly doubled the standard deduction from $6,300 to $12,200 for an individual and from $12,600 to $24,000 for a family.)
     

The tax cuts are helping a long list of Pennsylvania businesses give pay increases, benefit increases, and bonuses. For example:

  • Uncle Charley's Sausage (Vandergrift, PA) hired new employees, purchased new equipment including a new sausage stuffer, and added a new production line.
     
  • Hudson Facades (Linwood, PA) increased base pay and put $3,000 into every factor worker's 401(k) account.
     
  • Almo Corporation, the Philadelphia-based appliance distributor, is investing in a new distribution center and an ongoing headquarters renovation that can accommodate 65 additional employees.
     
  • Guy Chemical Company (Somerset, PA) increased wages, bonuses, and investment in new equipment including a new forklift, new laboratory furnishings, updated computer equipment, and a new software system.
     
  • Dollar Bank (Pittsburgh, PA) gave $2,000 permanent raises for employees making $60,000 or below.
     

If Biden repealed the tax cuts, Pennsylvanians would also be stuck paying higher utility bills because the corporate tax rate would revert back to 35 percent. Thanks to the Tax Cuts and Jobs Act, the corporate rate was reduced to 21 percent, and as a direct result PA utility companies passed on these savings to customers in the form of lower electric, water, and gas bills.

Examples include Pike County Light & Power Company, PPL Electric Utilities Corporation, Wellsboro Electric Company, West Penn Power Company, PECO Energy Company, Peoples Gas Company, UGI Central Penn Gas Inc., Pennsylvania American Water Company, and Citizens Electric Company of Lewisburg.

From a nationwide perspective, if Biden repeals the Tax Cuts and Jobs Act, the following would happen:

  •  A family of four earning the median income of $73,000 would see a $2,000 tax increase.
     
  • A single parent (with one child) making $41,000 would see a $1,300 tax increase.
     
  • Millions of low and middle income households would be stuck paying the Obamacare individual mandate tax.
     
  • Utility bills would go up in all 50 states as a direct result of the corporate income tax increase.
     
  • Small employers will face a tax increase due to the repeal of the 20% deduction for small business income.
     
  • The USA would have the highest corporate income tax rate in the developed world.
     
  • Taxes would rise in every state and every congressional district.
     
  • The Death Tax would ensnare more families and businesses.
     
  • The AMT would snap back to hit millions of households.
     
  • Millions of households would see their child tax credit cut in half.
     
  • Millions of households would see their standard deduction cut in half, adding to their tax complexity as they are forced to itemize their deductions and deal with the shoebox full of receipts on top of the refrigerator.
     

As noted by the New York Times, thanks to the GOP tax cuts, “Most people got a tax cut.”

The NYT also stated: “To a large degree, the gap between perception and reality on the tax cuts appears to flow from a sustained — and misleading — effort by liberal opponents of the law to brand it as a broad middle-class tax increase.”

The Washington Post also stated: “Most Americans received a tax cut.”

More evidence of the benefits flowing from the tax cuts can be found in a recent H&R Block report, which stated, “overall tax liability is down 24.9 percent on average.”

In Biden's home state of Delaware, the report found that residents received a 24.6% reduction in their taxes, on average.

Biden and the rest of the 2020 Democrats have thoroughly convinced themselves the tax issue is dead, but Americans will have their own say at the ballot box.

"Joe Biden is not Methuselah. He is Walter Mondale part deux," said Grover Norquist, president of Americans for Tax Reform. In 1984 Mondale famously promised to raise taxes if elected. He lost to Ronald Reagan in the electoral college 525-13, winning only his home state of Minnesota and the District of Columbia.

See also:

Biden: “First thing I’d do is repeal those Trump tax cuts.”

Joe Biden broke his middle class tax pledge

Kamala Harris Vows Repeal of Tax Cuts “on Day One”

“Mayor Pete” Calls for Steep Tax Hike on Homes and Businesses

Biden: “When I’m President, if God willing I am, we’re going to reverse those Trump tax cuts.”

 

 

Photo Credit: Marc Nozell/Flickr

More from Americans for Tax Reform


Video: Biden Will Destroy Pennsylvania Energy Jobs

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Posted by John Kartch on Thursday, September 17th, 2020, 5:30 PM PERMALINK


Watch: Joe Biden vows to end fracking and fossil fuels:


How the Trump Republican Tax Cuts Are Helping Wisconsin

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Posted by John Kartch on Thursday, September 17th, 2020, 5:10 PM PERMALINK

Joe Biden has threatened numerous times to repeal the Tax Cuts and Jobs Act on "Day One." But Wisconsin is benefiting greatly from the tax cuts enacted by congressional Republicans and President Trump:

Individual mandate tax relief: 82,060 Wisconsin households are no longer stuck paying the much-loathed individual mandate tax, thanks to the TCJA's elimination of this tax. 80% of Wisconsin households hit with this tax made less than $50,000 per year. Be warned, Joe Biden wants to bring this tax back from the dead, one of the many reasons Biden can't be trusted on taxes.

424,970 Wisconsin households are benefiting from the TCJA’s doubling of the child tax credit.

Every income group in every Wisconsin congressional district received a tax cut. Nationwide, a typical family of four received a $2,000 annual tax cut and a single parent with one child received a $1,300 annual tax cut.

1,954,190 Wisconsin households are benefiting from the TCJA’s doubling of the standard deduction. Thanks to the tax cuts, nine out of ten households take the standard deduction which provides tax relief and simplifies the tax filing process.

Lower utility bills: As a direct result of the TCJA’s corporate tax rate cut, Wisconsin residents are saving money on utility bills. Lower electric, water, and gas bills help households and small businesses operating on tight margins. For example, Madison Gas & Electric, Alliant Energy, Wisconsin, Superior Water, Light & Power, and We Energies (see below) all passed along tax cut savings to their customers. 

Thanks to the tax cuts, Wisconsin businesses of all sizes are hiring, expanding, raising pay and increasing employee benefits:

MusicNotes (Madison, Wisconsin) – Salary increases for employees:

The new year brings a new salary increase for all 55 employees at Musicnotes, Inc., the worldwide leader in digital sheet music based in Madison, Wisconsin. Effective January 1st, the 3% salary increase is tied specifically to corporate tax reform and is in addition to Musicnotes' existing annual raises to eligible employees. 

"We're genuinely appreciative of our loyal and gifted team at Musicnotes and we are thrilled to share the benefit of lower corporate taxes with them," said Executive Chairman, Tim Reiland. "It's the right thing to do and it's also smart business."

After a strong 2017 sales performance, Musicnotes was named to the Internet Retailer Top 1000 list for the 13th straight year in 2017 and garners over half of the worldwide digital sheet music market, according to traffic statistics from SimilarWeb. The company has sold products to over six million customers since 1998.

"Musicnotes has paid a full corporate tax rate over the past several years," indicated Reiland. "Beyond the Jan 1 salary increases, we will accelerate hiring plans and also have increased flexibility regarding technology projects and investment opportunities in 2018 and beyond." – Jan. 8, 2018 MusicNotes press release

Quad/Graphics (Sussex, Wisconsin) - Giving employees stock for their retirement accounts:

Quad/Graphics Inc., the international printing company based in Sussex, said this week that Instead of a one-time bonus, the company will transfer roughly $22 million in Quad/Graphics stock to its employees' retirement accounts.

In his fourth quarter 2017 earnings call with analysts this week, chairman, president and CEO Joel Quadracci said the stock gift was "made possible by tax reform legislation."

"We received a benefit from tax reform and decided it made sense to invest this back into our employee base who is helping drive our transformation as a company," said company spokeswoman Claire Ho.- February 23, 2018, Milwaukee Business Journal article excerpt

Trico (Pewaukee, Wisconsin) -- 401(k) expansions, bonuses, and creation of new jobs:

For example, as a direct result of the tax cuts, full-time employees at the Pewaukee-based Trico Corporation will receive $650 bonuses and increased contributions into their 401(k) accounts. The company will also hire more full-time workers to fill new positions. - April 17, 2018, Rep. Jim Sensenbrenner article excerpt

Brian's Electric (Stratford, Wisconsin) – The Tax Cuts and Jobs Act allowed the company to increase wages:

Jacobs told Budget & Tax News he has passed the benefits of TCJA along to his employees,

“I gave out, when you add it all up, about $150 an hour worth of wage increases,” Jacobs said. “Depending on how they have their taxes taken out of their checks, the lowest was around $14 a week in net take home pay, all the way up to $65 in net take home pay.” – Sept. 12, 2018, Heartland Institute article.

The Platform (Milwaukee, Wisconsin) -- The company is building a co-working space and food hall which is located in an Opportunity Zone created by the Tax Cuts and Jobs Act:

Developers offered look Monday at the progress on a $16 million project to turn a cold storage building into a co-working space and food hall in the Milwaukee Junction neighborhood.

The first floor-to-ceiling window has been installed in the nine-story building at 2937-67 E. Grand Blvd. It will be among dozens of windows that will pour light into the long-abandoned building known for its rainbow-colored mural.

"It is a relatively small project but because it is out of the norm, it attracts a great deal of interest," said Peter Cummings, executive The Platform, the Detroit-based development group undertaking the project.

For example, the Chroma project falls under Opportunity Zone rules that allow investors to reduce or avoid capital gains taxes by investing in designated areas. Ferrari will participate in a session Tuesday on the topic of successful opportunity zone investments. -- April 30, 2019 Detroit News article

Koehler Flooring, Inc. (Green Bay, Wisconsin) – This family carpet and flooring company gave $1,000 bonuses to seven full-time employees:

The tax reform bill is a huge win for the USA and will have positive effects on our floor covering business. Our customers have more capital to use for expansion and remodeling which is great news for all construction trades. There is more work to be done on the tax code but it's nice to see this recent reversal on punishing success. My crew was very happy to receive their tax reform good news.” -- David Koehler, President.

Americollect (Manitowoc, Wisconsin) $300 - $500 bonuses for 250 employees:

A Manitowoc-based company will give its roughly 250 employees a bonus following Congress's passage of the tax reform bill the Tax Cuts and Jobs Act.

In an email to employees Wednesday, Americollect President and CEO Kenlyn T. Gretz said: “Today, Congress passed the tax reform bill; our company will be taxed less because of it. Since we will now be taxed less, I wanted to take this opportunity and utilize this financial benefit to give back to each of you, our teammates, by directly impacting your paycheck in the form of a bonus!”

Gretz said: “We find great joy in being able to provide this bonus to the employees, who really are the heart and soul of what we do. Full-time employees can expect to see as much as a $500 bonus come 2019 and even part-time employees will be included.” -- Dec. 21, 2017 Manitowoc Herald Times article excerpt

Melron Corporation (Schofield, Wisconsin) -- The company was able to give employees a pay raise because of the Tax Cuts and Jobs Act:

Thanks to the trump tax cuts, I've been able to raise my employees wages so they got a pay raise and the tax cuts. Even in the face of the pandemic the president doubled down on his support for business. -- Debbie Flood Speech at RNC, Aug. 27, 2020

American Family Insurance (Madison, Wisconsin): 11,000 workers will receive a $1,000 bonus:

“American Family Insurance said Friday it will give 11,000 workers a one-time bonus of $1,000, becoming the latest U.S. company to pass some of the savings from federal tax reform to employees.

The Madison-based insurer said the reduction in the corporate income tax rate also would help fuel permanent changes to its employee benefits program, such as expanded tuition reimbursement, help paying student loans and scholarships for workers who pursue a post-high school degree.

In addition, American Family said its family leave program now will provide employees with paid leave to care for an ill child of any age or for a spouse or domestic partner.

 “Our success rests with our people who are dedicated to helping our customers,” Bill Westrate, American Family Insurance president, said in a statement. “These changes demonstrate our commitment to our people, today and into the future, with expanded benefits and educational support, and to the communities where we do business.”

American Family said Friday the company will contribute $10 million to its Dreams Foundation, which supports programs and provides grants to nonprofits. This year, American Family said, the foundation will provide a one-time, two-to-one match for employee and agent donations to qualifying charities, a boost from the one-to-one match in place since the Dreams Foundation was established in 2016. – Jan. 26 2018, Milwaukee Journal Sentinel article excerpt

Twisted Path (Milwaukee, Wisconsin) – Because of the Tax Cuts and Jobs Act, the business is planning on hiring new employees:

With less than 20 days until the Craft Beverage Modernization and Tax Reform Act expires, local craft distillers are getting nervous. Brian Sammons, owner of Twisted Path Distillery in Milwaukee's Bay View area and president of the Wisconsin Distillers Guild, said the last few weeks have been scary for him and his small craft business.

"It's goofy to have this much business uncertainty just hanging in the balance," Sammons said.

…..

Sammons only has two full-time employees and four part-time. He is waiting to hire a full-time sales and marketing person because of the act's uncertain future.

Local distillers such as Sammons points to the political distractions in the House and Senate as a reason for the act's idleness. The act is bipartisan with 326 co-sponsors in the House and 73 co-sponsors in the Senate, more than three-quarters representation in each chamber. – Dec. 16, 2019, Milwaukee Business Journal article.

Sprecher Brewing Company (Milwaukee, Wisconsin) – The brewery used savings from the Tax Cuts and Jobs Act to reinvest in the company and create new jobs:

"Other breweries in this area are certainly doing the same thing with the savings they get as we are here," said Jeff Hamilton, president of Sprecher Brewing Company. "This act gave a bit of a tax break to all alcohol producers."

Right now, the team at Sprecher said the money saved from the tax breaks goes back into the business.

"Gives us additional funds that can be reinvested back into the company," Hamilton said. "Back into creating additional products, which on top of that creates new jobs."  Oct. 9, 2019, Fox 9 article.

RF Development (Menasha, Wisconsin) -- The company is redeveloping a building and creating commercial and residential space in an Opportunity Zone created by the Tax Cuts and Jobs Act:

Alderman Stan Sevenich said the proposed $10 million redevelopment of the former Brin Building property could be one of the best things to happen in Menasha in the past 100 years.

"I actually think that this is probably going to be the catalyst that will really turn Menasha into the gem of the Valley," Sevenich told The Post-Crescent.

RF Development of Menasha, the same group that owns the former City Hall at 140 Main St., intends to construct a three-building commercial and residential complex on the Brin site at the southeast corner Main and Tayco streets.

Sevenich and the rest of the Common Council reviewed the proposal Dec. 16 and unanimously directed city staff to negotiate a development agreement for the project.

The agreement could come back to the council for approval as soon as January. Sevenich said RF Development could begin construction by late spring.

"This is going to be somewhat on the fast track," Sevenich said.

The development has a tentative completion date of spring 2021.

According to plan, RF Development would purchase the Brin property from the city for $1 and then redevelop it as follows:

Building 1: A three-story mixed-use building at the corner would have 8,148 square feet of commercial space on the ground floor and 16 market-rate apartments on the upper floors.

Building 2: A four-story residential building along Tayco would have 30 market-rate apartments. The two apartment buildings would be connected by a skywalk.

Building 3: A 3,000-square-foot restaurant near the Fox River navigational canal.

Parking: The development would have 40 underground stalls and 55 surface stalls.

Mayor Don Merkes said the project would set the tone for future developments and would offer connections to the city's trails and waterfront.

"I think it really sends a good message as you're coming into town that this is the entry to our downtown and this is what you can expect to see when you're downtown," Merkes told The Post-Crescent.

Sam Schroeder, the city's director of community development, described the proposal as "an iconic and influential project that will lead a path of urban renewal and growth in our downtown."

Menasha officials had been marketing the site to potential developers to create a new anchor for the downtown. The site lies in an Opportunity Zone, which provides investors with certain federal tax advantages. -- December 25, 2019 The Post-Crescent article

White Lotus Group (Milwaukee, Wisconsin) -- The company announced that they will be building 100 affordable apartments located in an Opportunity Zone created by the Tax Cuts and Jobs Act:

The former Fletcher School property near Northridge Mall in Milwaukee could be sold to developer White Lotus Group for 100 new affordable apartments and community spaces for local social service groups including the YMCA.  White Lotus Group, based in Omaha, Nebraska, expects the project will cost $28 million, according to a city of Milwaukee report on the proposed property sale. The one-story school at 9500 W. Allyn St. has been vacant since 2009. The city would sell it for $500,000.  

White Lotus has a “special affinity” for rehabbing vacant former schools into housing, and is exploring multiple opportunities to do that in Milwaukee, said Scott Henry, executive vice president of development in the company’s Chicago office.  

  “The real estate tends to be good, the buildings tend to be built well and solidly and they are beloved properties in the community that people want to see saved,” he said.  White Lotus would build three vertical floors on top of the existing Fletcher school for a mix of one-, two- and three-bedroom apartments. The first floor would have about 70,000 square feet of community space dedicated for local social-service organizations. Those organizations could provide financial literacy training, or help people find jobs, for example, Henry said. 

 Potential partners for that space are the YMCA, Social Development Commission and CrossWay Church, according to the city report.  The apartments would be for people making 50% to 80% of the area’s median income level, Henry said. It would become a modern housing option for people in the local workforce, he said.  White Lotus must secure low-income housing tax credits to finance the development. It would apply in December to the Wisconsin Housing and Economic Development Authority to compete for them. If White Lotus succeeds in winning the credits, it would buy Fletcher School in August 2020.   

 Evers reveals businesses allowed to operate under Safer at Home order  Businesses allowed to operate under the Safer at Home order include banks and health care operations COMING EVENT Power Breakfast June 19   White Lotus plans to use other public financing mechanisms to pay for the project. Those include the federal Opportunity Zone program, Henry said. The federal Opportunity Zone program offers tax breaks to investors who put money received from capital gains into developments in low-income areas.  White Lotus usually works with larger corporations seeking to invest multimillion-dollar sums through the Opportunity Zone program. While that financing would be available for Fletcher School, Henry said there’s also room for local investors who may want to participate. -- November 11, 2019 Milwaukee Business Journal article

Madison Gas & Electric (Madison, Wisconsin) - The utility is passing along tax cut savings to customers:

Madison Gas & Electric will return a one-time credit of $9.23 to its residential electric customers and $4.80 to natural gas customers by July 31. After that, electric bills will dip about $1.56 a month and gas bills by about $1 a month in 2018, MGE spokesman Steve Schultz said. That totals about $8 million worth of credits, according to PSC calculations.

The money represents excess taxes the companies have been collecting from ratepayers. Utility rates, set in advance, anticipated a 35 percent corporate tax rate. But Congress, in its tax reform package, lowered the rate to 21 percent. – May 26, 2018 Wisconsin State Journal article excerpt

Great Lakes Distillery (Milwaukee, Wisconsin) – Used savings from the Tax Cuts And Jobs Act to add space and buy new equipment:

When the Craft Beverage Modernization and Tax Reform Act was passed two years ago, Great Lakes Distillery founder and owner Guy Rehorst was able to make a lot of advances to his business with the added savings. He added space to his Walker's Point distillery at 616 W. Virginia St. in Milwaukee. He also added new equipment and new personnel and began producing more product for future sale. – Dec. 10, 2019, Milwaukee Business Journal.

Stillmank Brewery (Green Bay, Wisconsin) – The owner of the brewery said that he was able to use savings from the Tax Cuts and Jobs Act to create new jobs and grow his company:

It did help us,” Brad Stillmank, Owner and Brewer at Stillmank Brewery in Green Bay said, “you know, accelerate our growth to where we are now.”

Stillmank added that his brewery currently produces between 1,500 and 2,000 barrels of beer annually, meaning that with the tax cuts, his business is saving almost $7,000 every year.

He explained that breweries are still taxed in other ways, despite the cut, “We’re still responsible for paying all the other taxes that any other business would have to, this is just a tax that’s above and beyond for our particular business segment.”

....

Stillmank says that over the past two years, he has been able to invest more in his business and the community, evening hiring extra personnel as a result of the tax breaks.

“For the last two years we’ve been doing our best to take advantage of the opportunity that we have had with that,” he explained, “and we have grown our company and we have added employees.”

Without the tax cuts, Scanzello told Local 5 he worries that that kind of growth will falter across the area, including in businesses that supply local breweries.

“Cleaning chemical companies, hop purveyors, or equipment manufacturers are all going to be impacted by anything that’s going to stunt the growth in the industry,” he said. – Dec. 11, 2019,  CBS Green Bay Article.

Alliant Energy, Wisconsin (Madison, Wisconsin) - The utility is passing along tax cut savings to customers:

Alliant said its retail electric costs will rise by a total of $194 million in 2019 and 2020 as it brings on the 700-megawatt, natural gas-fueled West Riverside power plant near Beloit in the second half of 2019.

Alliant’s natural gas expenses are projected to rise $24 million over that period.

But rather than raising customer rates, the utility said it will cut costs via fuel savings and income tax reductions. - May 26, 2018 Wisconsin State Journal article excerpt

Superior Water, Light & Power (Superior, Wisconsin) – the utility is passing along tax reform savings to customers:

Residential customers of Superior Water, Light & Power will receive a $31.80 lump-sum credit on July bills as a result of savings accrued from the tax law Congress passed last year, according to an order issued Thursday by the Public Service Commission.

Customers in all categories will receive lump-sum and ongoing credits for each provided service. The largest electrical customer will receive a $61,807 lump sum credit and other non-residential customers will receive lump-sum electric credits varying from $13.70 to $3,106 depending on customer classification, according to the PSC order.

SWL&P estimated its total customer credits this year at $1.322 million. – May 29, 2018, Superior Telegram article excerpt

We Energies (Milwaukee, Wisconsin) – the utility is passing along tax reform savings to customers:

We Energies electric customers will receive a one-time credit in July and a slight decrease in electric rates in subsequent months from a portion of the savings from the company's lower federal corporate tax rate, state regulators decided on Thursday.

The Public Service Commission determined that 20 percent of the immediate savings from the lower tax rate should be passed on to customers.

The remaining 80 percent of the savings will go toward paying down deferred costs that stood at $424.5 million as of Dec. 31 but that are not included in current rates.

"It will be a win-win for our customers — providing an immediate bill credit while also helping to reduce future rate increases," Cathy Schulze, a We Energies spokeswoman, said in an email.   - April 26, 2018, Milwaukee Journal Sentinel article excerpt

Central Standard Distillery (Milwaukee, Wisconsin) – The Tax Cuts and Jobs Act allowed the distillery to hire four new employees, invest in a new facility, and ordered a new bottling line:

Central Standard Distillery co-owner Evan Hughes said his business was able to grow faster than it normally would because of the act. He attributes four key growth areas to the success of the act, including: Central Standard hired four new employees, bringing staff totals to 22 people. The company invested in a 15,000-square-foot facility on Clybourn Street. In addition, Central Standard ordered a new bottling line for improved efficiency and offered health care to all of its employees.

"It gave us the courage to expand our business quicker than we normally would," Hughes said. – Dec. 10, 2019, Milwaukee Business Journal.

Associated Bank (Green Bay, Wisconsin) – a base wage increase from $10 to $15 per hour and $500 bonuses:

Associated Bank today announced plans to raise its minimum hourly wage from $10 to $15 per hour and to distribute a one-time bonus of $500 for all hourly, non-commissioned employees once tax reform legislation is signed into law.

The pay increase and one-time bonus are expected to be distributed during the first pay cycle of 2018. This combined investment in the company's workforce will positively impact 55% of its employees.

"Every day our customers share stories of our colleagues delivering a positive customer experience," said Associated Bank President and CEO, Philip B. Flynn. "Our ability to recognize their work in this way is something we are proud to do."

Flynn said the new tax legislation, particularly the reduction in business tax rates, allowed the company to share some of the benefits with its employees. It also helps position the company to further enhance the customer experience and its community investments in the future. -- Dec. 21, 2017 Associated Bank press release

Blue Harbor Resort (Sheboygan, Wisconsin) -- $1,000 bonuses:

The Forsythe Family today dedicated a one-time cash bonus of $1,000 to each eligible Blue Harbor employee.

The Forsythe Family’s financial dedication to Blue Harbor employees is in direct response to President Trump’s Tax Cuts and Job Act of 2017. – Jan. 25, 2018 MySheboygan.com article excerpt

Copperleaf Assisted Living (Stevens Point, Wisconsin) –  $200 - $600 bonuses for 175 employees:

An assisted-living business will give its 175 employees bonuses up to $600 as a result of the tax reform package passed by Congress and signed by President Trump on Friday.

Krista Mendyke, who owns Copperleaf Assisted Living with her husband, Jim, said they will give away all of the company's estimated tax savings as a result of the legislation.

Copperleaf, which is based in Stevens Point, also has facilities in Schofield, Marathon City, Ripon and Adams.

"It's really to bring awareness to what's going on in our country and how it impacts them ... and that businesses and corporations do want to do the right thing," Mendyke said Friday.

Every employee will receive a bonus, which will start at $200 and be tiered based upon the worker's status of casual, part-time or full-time. About 60 full-time employees will receive the maximum bonus of $600, she said.

Mendyke said she and her husband will visit each facility on Tuesday to hand out the bonus checks.

In total, they are giving away $60,000 in bonuses, "our entire tax savings" estimated for 2018 based on changes to business income tax rates, she said.

"I called (our accountant) yesterday and I said, what does this mean for us, a company our size?" Mendyke said Friday. "They sent us a projection and we're going to go ahead and pass that on." Dec. 22, 2017 Stevens Point Journal article excerpt

CUNA Mutual Group (Madison, Wisconsin) – $20 million in charitable contributions:

"CUNA Mutual Group said Tuesday the company is making its largest contribution ever to its philanthropic foundation, a $20 million donation made possible in part by federal tax reform." -- Feb. 13 2018, Journal Sentinel article excerpt

BMO Harris Bank200 locations in Wisconsin -- base wage raised to $15 per hour; increased charitable donations:

“BMO Harris Bank has joined an increasing number of financial institutions in raising its minimum hourly wage to $15.

The bank cited the recent federal tax reform, which lowered the corporate income tax rate, in its decision to boost employee compensation.

The new rate is effective immediately, the company said Tuesday. BMO Harris, which is based in Chicago and owned by Toronto's BMO Financial Group, has more branches than any other bank in Wisconsin.

BMO Harris also said it will increase its level of philanthropic community giving by 10% in 2018.

“We’re pleased to share the benefits of the strong economic conditions, and the effects of the recent tax reform changes, with our employees and communities,” David Casper, president and chief executive of BMO Harris Bank, said in a statement. “Our success is tied directly to the communities we serve, and we’re proud of the exceptional job our employees do in providing a great customer experience.” – Jan. 31 2018, Milwaukee Journal Sentinel article excerpt

Johnson Bank (Racine, Wisconsin) – base wage raised to $15 per hour.

North Shore Bank (Brookfield, Wisconsin) -- $500 bonuses.

Plexus Corp. (Neenah, Wisconsin) – cash bonuses for non-executive employees:

“In order to reward employees for their contributions towards Plexus’ success, Plexus will provide existing, full-time, non-executive employees a one-time cash bonus.  This bonus will be provided in the fiscal second quarter to nearly 16,000 employees, totaling approximately $13 million.” – Feb. 20 2018, Plexus press release excerpt

Robert W. Baird & Company (Milwaukee, Wisconsin) – Cash bonuses of up to $1,500; charitable contributions:

“Milwaukee's Robert W. Baird & Co. said it will pay cash bonuses of $500 to $1,500 to employees, joining the list of Wisconsin companies passing along some of the benefits of federal tax reform to their workers.

All full-time and part-time benefit-eligible employees of the financial services firm — except company leaders — will receive a $1,500 one-time cash bonus. Other part-time associates and long-term interns will receive a bonus of $500, Baird said.

Baird leaders will receive the benefit in the form of a $1,500 donation to the charity of their choice, which could amount to an additional $1.2 million being contributed to the community in 2018, the company said.

The one-time benefit will be awarded to Baird's more than 3,500 global employees and amounts to more than $5 million.” – March 2 2018, Milwaukee Journal Sentinel article excerpt

AT&T -- $1,000 bonuses to 2,684 Wisconsin 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 -- 27 locations in Wisconsin, bonuses for all hourly employees, up to $1,000.

Lowe's -- 1,000 employees at 8 stores and one distribution center in Wisconsin. 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 locations in Glendale, Madison, and Wauwatosa) -- $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.

Walmart – 89 stores in Wisconsin; 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.

Wells Fargo – 51 locations in Wisconsin; 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.

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

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

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

Ryder (Fourteen locations in Wisconsin) – Tax reform bonuses.

Starbucks Coffee Company (145 locations in Wisconsin) –$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 Wisconsin) – $1,200 bonuses for full-time employees, $500 for part-time employees.

McDonald’s (325+ locations in Wisconsin) – 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 

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

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

 

More from Americans for Tax Reform


Meet the "Harris-Biden" Administration

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Posted by John Kartch on Wednesday, September 16th, 2020, 2:49 PM PERMALINK

 

Click here or below to view:


High Tax Joe 2020


Posted by John Kartch on Wednesday, September 16th, 2020, 12:35 PM PERMALINK

Joe Biden and Kamala Harris will raise your taxes. They will impose income tax hikes, small business tax hikes, capital gains tax hikes, corporate tax hikes, a carbon tax, and will even bring back the much-hated Obamacare individual mandate tax.

September 16, 2020: Video: Meet the "Harris-Biden" Administration

September 15, 2020: Biden's Corporate Tax Rate Hike Will Hurt Small and Midsize Local Businesses

September 14, 2020: Biden Vows to Raise Taxes on "Day One"

September 9, 2020: Biden's Like-Kind Exchange Tax Hike Will Harm Jobs and Growth

September 9, 2020: Biden's Plan to End Pass-Through Deduction Will Raise Taxes on Small Businesses

September 8, 2020: Biden Cannot Be Trusted on Taxes -- His $400,000 Pledge is Bogus

September 1, 2020: Biden vs. JFK on Taxes: Video Shows Democrats Have Veered Hard Left on Taxes

September 1, 2020: Yes, Biden and Harris Will Ban Fracking

August 28, 2020: Video: Biden Will Raise Your Taxes, Trump Will Cut Your Taxes

August 26, 2020: Kamala Harris Campaign Headquarters Located in Opportunity Zone Created by Trump Tax Cuts -- Which Biden and Harris Want to Repeal

August 20, 2020: Biden and Harris Threaten Millions of Uber Drivers and Riders

August 19, 2020: Video: Nine Crazy Kamala Harris Quotes in 45 Seconds

August 19, 2020: Kamala Harris on Trump Tax Cuts: "Get Rid of the Whole Thing"

August 19, 2020: Kamala Harris Admits She Will Strip Everyone's Private Health Insurance

August 14, 2020: HYPOCRITES: Biden and Harris Slam Uber and Lyft But Have Used Them Over 1,400 Times

August 13, 2020: Kamala Harris and Joe Biden Vow to Abolish Your Right to Work

August 12, 2020: Video: Kamala and Joe Vow to Raise Your Taxes

August 11, 2020: Kamala Harris: "Get rid of the filibuster to pass a Green New Deal."

August 4, 2020: Video: Biden Vows to Raise Taxes Despite Obama Warning

July 28, 2020: Biden Threatens Freelancers and Independent Contractors Nationwide

July 27, 2020: Video: Biden Vows to Sacrifice "Hundreds of Thousands" of Jobs in Order to Impose Green New Deal

July 15, 2020: Biden Will Impose Highest Capital Gains Tax Rate Since Jimmy Carter in 1977

July 13, 2020: Biden Broke His Middle Class Tax Pledge

July 9, 2020: Even in a pandemic, Biden vows to impose higher corporate tax rate than communist China

May 27, 2020: Biden Vows to Bring Back the Individual Mandate Tax, A Violation of His Middle Class Tax Pledge

May 22, 2020: Joe Biden said: "Let's repeal the Trump tax cut."

May 22, 2020: Joe Biden said he wants to raise the corporate tax rate.

May 8, 2020: Joe Biden lies about the Tax Cuts and Jobs Act

April 5, 2020: Biden Endorses Another Tax Hike on Middle Class

March 11, 2020: Video compilation: How High Will Biden Raise Your Capital Gains Taxes?

March 6, 2020: Video Compilation: Joe Biden is Not a Moderate

Feb. 24, 2020: Video Compilation: Biden Will Raise Your Taxes By Eliminating Your Tax Cut

Feb. 7, 2020: Joe Biden said: "I'm going to raise the capital gains rate so that you pay capital gains at what your tax rate is."

Jan. 22, 2020: Joe Biden lied about the Tax Cuts and Jobs Act, claims it only benefited "top 2% of nation"

Jan. 9, 2020: Joe Biden lied about the Tax Cuts and Jobs Act.

Jan. 7, 2020: Joe Biden lied about his healthcare plan, says "no middle class tax" will occur.

Jan. 7, 2020: Joe Biden said: “Get rid of the Trump tax cut. No, not joking.

Dec. 6, 2019: Joe Biden said: "We should charge people the same tax for their capital gains as their tax rate is. And I think we should raise the tax rate back to, for example, I take it back to where it was before it was reduced. It could go higher, but at 39.5%, 40% basically if you have that as the capital gains, that raises, I brought along, I’m not going to bore you with it, but you’ve seen it, I brought along a graph is how much money each of these things raise."

Dec. 9, 2019: Joe Biden said the capital gains tax rate "could go higher" than 40%

Oct. 28, 2019: Joe Biden said Trump’s $2,000 middle class tax cut is “negligible”

October 24, 2019: Joe Biden said: "So reduce the corporate tax cut, the tax payment to 20%? It needed to be reduced, but if we raise it back up to 28%, it was 39%, we can raise hundreds of billions of dollars."

October 23, 2019: Joe Biden said“[Corporations] don’t need their tax cut reduced to 20 percent, it should be raised back to 28 percent."

October 23, 2019: Joe Biden said: “So every single solitary person, their capital gains are going to be treated like real income and they are going to pay 40 percent on their capital gains tax."

Oct. 15, 2020: Joe Biden said"I would raise the capital gains tax to the highest rate of 39.5 percent, I would double it."

September 27, 2019: Joe Biden said: “I’m gonna double the capital gains rate to 40 percent."

September 20, 2019: Joe Biden said“What I’d be focusing on is eliminating the $1.9 trillion tax cut that [Trump] passed."

September 4, 2019: Joe Biden endorses a carbon tax.

August 21, 2019: Joe Biden said“I believe we should, in fact, the capital gains tax should be at what the highest minimum tax should be, we should raise the tax back to 39.6 percent instead of 20 percent."

August 9, 2019: Joe Biden said: “By eliminating just a few of the tax cuts,” Biden said, then added, “I’m going to eliminate most all of them. No, you think I'm joking? I'm not."

July 30, 2019: VIDEO: 2020 Democrats Will Raise Your Taxes

July 16, 2019: Joe Biden said: “I would raise the corporate tax. I think we should have lowered it from 36 to 28 percent, but it got lowered to 20 percent. If we just raised it back to 28 percent, we would raise about 600 billion dollars a year. Look at all of the needs we have and the opportunities we have. Ladies and gentlemen, it begins by reversing those cuts.”

July 5, 2020, Joe Biden said: "Yes. Yes, I'd bring back the individual mandate."

July 5, 2019: Joe Biden said: "Well, three things. One, I do raise the tax rate to 39.5 percent. I do, in fact, eliminate the ability for them to write off capital gains the way they do now. I would raise the -- and raise billions of dollars -- raise the corporate tax rate from 20 percent to 28 percent.

July 3, 2019: Joe Biden and Kamala Harris agree on one thing: Raising taxes

July 2, 2019: Joe Biden is running ads to "Repeal Trump's Tax Cuts."

June 22, 2019: Joe Biden said"And folks, on day one, I will move to eliminate Trump's tax cuts."

June 17, 2019: Joe Biden said“First thing I would do as president is eliminate the president’s tax cut."

June 4, 2019: Joe Biden said: “You go out and you make a capital gain you make a little bit of money on an investment you made and you're about to go and cash it in.  You cash it in, you pay - now it's down to 20% is too low - but you pay you used to pay them 28%,"

June 3, 2019: Joe Biden said: “If you make a gain, you buy something, you buy stock or anything else and that increases from $1 to $2 or $1 - $2 million, and you want to cash it in, get the cash, you got to pay a capital gains tax much lower than what you’d pay in your regular taxes. It’s much too low now in my view, but that’s a different issue.”

May 28, 2019: Joe Biden said: “You buy something, you buy stock at a dollar it goes to two dollars. You buy a Million, it goes to a million five. When you cash that in to make the gain you made, you have to pay a capital gains tax, which I believe is much too low.”

May 13, 2019: Joe Biden said“When I’m president, if God Willing I am, we’re going to reverse those Trump tax cuts.”

May 4, 2019: Joe Biden said“First thing I’d do is repeal those Trump tax cuts."


Biden Vows to Raise Taxes "on Day One"

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Posted by John Kartch on Monday, September 14th, 2020, 10:45 AM PERMALINK

In an interview with CNN's Jake Tapper on Thursday, Joe Biden threatened to repeal the Tax Cuts and Jobs Act and also vowed to raise the U.S. corporate income tax rate on "Day One" -- giving America a higher tax rate than Communist China.

Here's the key exchanges:

Jake Tapper: "You vowed to undo President Trump's tax cuts."

Joe Biden: "Yes."

Tapper asked, "When would you make these changes? The economy is in a bad state right now."

Biden replied: "I'd make the changes on the corporate taxes on Day One. And the reason I would make the change in corporate taxes, it could raise $1.3 trillion if they start paying at 28% instead of 21%."

Biden's tax hike to 28% would give the United States a higher tax rate than Communist China's 25%.

Click here or below to watch the Biden tax hike threat:

Even Barack Obama has warned against raising taxes in an economic downturn.

If Biden and Harris repeal the tax cuts, as they have said countless times, the following will happen:

  • A family of four earning the median income of $73,000 would see a $2,000 tax increase each year.
  • A single parent (with one child) making $41,000 would see a $1,300 tax increase each year.
  • The child tax credit will be cut in half.
  • Millions of low and middle-income households would be stuck paying the Obamacare individual mandate tax of $695 - $2,085. This tax was zeroed out as part of the Tax Cuts and Jobs Act. Biden has vowed to re-impose this tax.
  • The USA would have the highest corporate income tax rate in the developed world, higher than China (25 percent), the United Kingdom (19 percent), Canada (26.8 percent), and Ireland (12.5 percent). 
  • Small employers will face tax increases due to the increase in marginal income tax rates and the repeal of the TCJA 20% deduction for small business income.
  • The Opportunity Zone program would be abolished. Opportunity Zones were created as part of the TCJA are already helping economically distressed areas across the country.
  • Taxes would rise in every state and every congressional district.
  • The Death Tax would ensnare more families and businesses.
  • Utility bills would go up in all 50 states as a direct result of the corporate income tax increase.  
  • Millions of households would see their standard deduction cut in half, adding to their tax complexity as they are forced to itemize their deductions and deal with the shoebox full of receipts on top of the refrigerator.
     

Even left-leaning media outlets have acknowledged the fact that the Trump tax cuts have helped middle income households:

Americans for Tax Reform has compiled over 1,200 examples of how the Tax Cuts and Jobs Act has helped businesses and households in all 50 states.

 

 


Video: Trump Opportunity Zones Creating Jobs Nationwide

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Posted by John Kartch on Monday, September 14th, 2020, 10:15 AM PERMALINK

Today ATR released a video compilation of local news reports highlighting success of the Opportunity Zones enacted by Congressional Republicans and President Trump. New businesses are opening in Opportunity Zones created by the Tax Cuts and Jobs Act, bringing new jobs and services to economically distressed areas.

The Opportunity Zone provision provides capital gains tax relief for long term investments in the local areas, which are designated by state officials nationwide.

Click here or below to view the video:

Kamala Harris Campaign Headquarters Located in Opportunity Zone Created by Trump Tax Cuts -- Which Biden and Harris Want to Repeal

 


How the Trump Republican Tax Cuts Are Helping Michigan

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Posted by John Kartch on Wednesday, September 9th, 2020, 11:12 AM PERMALINK

Joe Biden is visiting Michigan today and he has threatened numerous times to repeal the Tax Cuts and Jobs Act on "Day One."

But thanks to the Tax Cuts and Jobs Act enacted by congressional Republicans and President Trump:

Individual mandate tax relief: 147,340 Michigan households are no longer stuck paying the much-loathed individual mandate tax, thanks to the TCJA's elimination of this tax. 82% of Michigan households hit with this tax made less than $50,000 per year. Be warned, Joe Biden wants to bring this tax back from the dead, one of the many reasons Biden can't be trusted on taxes.

Across the board tax cut: Every income group in every Michigan congressional district saw a tax cut.

Doubled child tax credit: 647,610 Michigan households are benefiting from the TCJA’s doubling of the child tax credit.

Standard deduction: At least 3,463,240 Michigan households are benefiting from the TCJA’s doubling of the standard deduction.

Lower utility bills: As a direct result of the TCJA’s corporate rate cut, Michiganders are paying lower utility bills. Lower electric, water, and gas bills help households each month, and also help small businesses operating on slim profit margins. Michigan examples of utilities passing on tax savings to customers include – but are not limited to:

Joe Biden has vowed to raise the corporate tax rate to 28 percent, which would impose a direct increase in utility rates.

In their own words, learn how the tax cuts have helped Michigan businesses of all sizes: Thanks to the TCJA’s corporate tax rate cut – from 35 percent to 21 percent – and the TCJA’s 20 percent tax cut for small businesses, employers of all sizes are hiring new workers, expanding operations, upgrading equipment, and increasing pay and benefits:

The Mitten Brewing Company (Grand Rapids, Michigan) -- Because of the Tax Cuts and Jobs Act, the Michigan Brewery was able to produce new beer, perform new research, hire new employees, give employees pay raises and bonuses:

"It literally put money back into our pockets that we were spending before. We had been producing a bunch of new beers that we have been able to research and develop, and we’ve retained key employees, by giving them bonuses, raises, bringing in new employees," said Max Trierweiler, co-owner of The Mitten Brewing Company.” -- Oct. 7, 2019 WZZM13 Article

SpartanNash (Grand Rapids, Michigan) – Pay raises and bonuses:

A locally based grocery store chain plans to re-invest half of its savings from federal tax reform into employee compensation and one of its brands.

David Staples, the CEO of Byron Center-based SpartanNash, which is also a food distributor, said in a conference call to investors yesterday the company will issue bonuses, raise wages and invest in employee training in the first quarter of 2018.— Feb. 23 2018, Grand Rapids Business Journal article excerpts

WebHobby Shop, LLC (Pontiac, Michigan) -- Pay raises for employees:

“I am sure it seems like 'crumbs' to elitists but I was able to give them a $2 per hour raise because of the tax reform. It was great to do and my staff is very pleased.” – Bruce Zak, Principal, WEBHOBBYSHOP LLC

Penske Automotive Group (Bloomfield Hills, Michigan) – Increased 401(k) contributions:

Penske Automotive Group, Inc. (NYSE: PAG), an international transportation      services company, announced today that it has enhanced the company's U.S.        401(k) savings plan by increasing company matching contributions from 1.5% to  2.5% of eligible contributions, representing an increase of 67%.  The increase  will provide a recurring, annual benefit to our employees.

"The recently enacted tax reform positively impacts our business, presenting us with even greater opportunities to pursue our strategic initiatives, invest in our employees and improve shareholder value," said Penske Automotive Group Chairman Roger S. Penske – Jan. 31, 2018 Penske Automotive Group press release

Blackrocks Brewery (Marquette, Michigan) – Reinvesting tax savings into equipment and personnel:

Blackrocks Brewery in Marquette, Mich. is already working on expanding its operations thanks to the new tax law, said David Manson, co-founder and ambassador of fermentology at the brewery. His brewery is reinvesting the money in equipment and personnel, and looking which he hopes will help get his beer on more store shelves. Blackrocks has an American Brown Ale that sells for $8.99 per six-pack and a porter that’s $9.99 for a six-pack.

“This will allow us to get over the hump of the high demand in our state, and we probably wouldn’t necessarily be able to do it without that tax break,” he said. “This will allow us to put up a fighting chance to hold our own.” April 26, 2018 MarketWatch article excerpt

ITC Holdings Corporation (Novi, Michigan) – the utility is passing along tax cut savings to its customers:

ITC Holdings Corp. (ITC), the nation's largest independent electricity transmission company, today announced it is reducing its customer rates as a result of the lower federal corporate income tax rate the company received under the Tax Cuts & Jobs Act of 2017.

ITC's wholesale electricity customers throughout the Midcontinent Independent System Operator (MISO) region will see an 8-to-10 percent reduction in transmission rates, retroactive to January 1, 2018, beginning with bills for services provided in March. A similar reduction will be made to ITC's formula rate in the Southwest Power Pool region for future periods, effective back to January 1, 2018. – April 2, 2018 ITC Holdings Corporation article excerpt

Mill Steel Company (Grand Rapids, Michigan) – $1,000 bonuses for 400 full-time associates:

Mill Steel Co., one of the nation's largest distributors of flat-rolled carbon steel, is pleased to award a $1,000 bonus to all 400 of its full-time associates following the tax cut passed by Congress and signed by President Trump.

Mill Steel announced this morning that all full-time associates across its nine operations nationwide, no matter each individual's seniority, will receive a one-time bonus from the recent tax overhaul that reduces corporate tax rates. – Feb. 8 2018, Mill Steel Company press release excerpt

Gray Skies Distillery (Grand Rapids, Michigan) -- Expanding production and employment:

Gray Skies has been in business for around two and a half years and has recently been able to expand production because of one specific aspect of the GOP tax law. It's called the Craft Beverage Modernization and Tax Reform Act, which was an amendment to the big picture bill Trump signed into law in December.

There's a lot to the law, but here's why it matters to Gray Skies and other distilleries like it: excise taxes are much, much lower for them now. 80% lower to be exact.

"The instant a drop of alcohol is produced, tax is owed on that," said Steve Vander Pol, who co-founded Gray Skies and serves as the head distiller.

The law reduces excise taxes on producers from $13.50 per proof gallon for the first 100,000 gallons produced to $2.70 per proof gallon.

"We're talking thousands of dollars every quarter that we're saving," Vander Pol said, "and obviously for someone on this sized scale to write a check that's reduced by 80% is pivotal. It's been huge for us." - June 4, 2018, WZZM article excerpt

Upper Peninsula Power Company (Marquette, Michigan) – the utility is passing along tax cut savings to its customers:

The Tax Cuts and Jobs Act (TCJA) was passed into law at the end of 2017, effectively lowering corporate tax rates from 35 percent to 21 percent. Upper Peninsula Power Company (UPPCO) is requesting approval of a proposal that would pass along the savings attributable to the TCJA to its customers. UPPCO’s proposal was filed with the Michigan Public Service Commission (MPSC) on March 30th as part of the process that is required by the state for determining how the benefits of the TCJA are to be credited to the utility’s customers.
“Under our plan, a typical residential customer consuming 500 kilowatt hours per month will see a reduction of approximately $1.30 on their monthly bills,” said Brett French, Vice-President of Business Development and Communications. “This is in addition to approximately $7 in monthly savings currently being seen by a typical residential customer because of the steps we implemented in January. We anticipate our customers will begin to see the additional savings later this summer after the MPSC approves our plan.” – April 2, 2018 WLUC News article excerpt

Iron Fish Distillery (Thompsonville, Michigan) – Because of the Tax Cuts And Jobs Act, the owner was able to create new full time jobs and invest in the company:

“For us this has been a game changer. This tax incentive, this tax decrease really came right at a time when we needed to take some risks, and invest in the business and hire people and so it was, I think, as intended, worked here at Iron Fish,” said Anderson. – Dec. 17, 2019, 9&10 News article.

Detroit Opportunity Zone -- Creation of over 200 jobs and construction of a new hotel in an Opportunity Zone created by the Tax Cuts and Jobs Act:

It would also mark the first major new development revealed in the Corktown neighborhood, about two years after it was first reported that Ford Motor Co. was redeveloping the train station on 15th Street and building an autonomous vehicle and electric vehicle campus in the neighborhood.
 
A building on the site, most recently City Cab, that has been vacant for a couple of decades would be torn down to make way for the new project, subject to approval from the Historic District Commission.
 
Rutledge said the hotel is expected to employ between 200-225 full- and part-time employees.
 
Rutledge and Wertheimer declined to discuss financial specifics. But they said the project is fully financed and that Opportunity Zone status for the area made it easier to secure equity, which comes primarily from local sources, Wertheimer said. -- March 16, 2020 Crain’s Detroit Business article

Cedar Springs Brewing Company (Cedar Springs, Michigan) -- Used savings from the Tax Cuts and Jobs Act to hire new employees and purchase new equipment:

Across the nation, craft beer makers are urging Congress to pass the Craft Beverage Modernization and Tax Reform Act.

The current legislation gives small brewers a 50% reduction of their federal excise tax, but it expires at the end of 2019.

"It was relief for a lot of us," Cedar Springs Brewing Company's Dave Ringler said. "I can speak personally, that gave us a little cash flow ease. It was something we used to hire employees, buy new equipment. It definitely helped out."

The new act would make that tax cut permanent.

"We’re all little guys," Ringler added. "Almost all of us are entrepreneurs that are sole proprietors or small business people, so it really does help Main Street."

"Small breweries really are the lifeblood of small communities," Ringler added. "It's been a huge part of revitalization in communities not only here in Michigan but nationally." -- Oct. 10, 2019 Fox 17 Article

Stormcloud Brewing Company (Frankfort, Michigan) -- Savings from the Tax Cuts and Jobs Act allowed the company to buy new equipment and hire more employees:

“When the initial tax credit passed, it was an immediate savings for us and we were at a time when our business was continuing to grow, and so we took that opportunity to look at how we could invest in additional equipment, which brought on new employees as well,” said Stormcloud Co-Owner Rick Schmitt.

“We were able to add tank space, which allowed us to increase our distribution footprint, so today we’re in 35 counties in Michigan and likely we wouldn’t be there today if it weren’t for this tax credit,” said Schmitt.-- Oct. 7, 2019 9 & 10 News

Renaissance Global Logistics (Detroit, Michigan) – Tax reform bonuses:

“Tax reform helped Renaissance Global Logistics, headquartered in Detroit, give bonuses to my employees. Nancy Pelosi call these bonuses ‘crumbs’ and that’s disrespectful. I would ask Nancy Pelosi to come to Detroit to ask my employees what they thought of the bonuses. As an employer, it was rewarding to be able to give them out. Tax reform gives small businesses like mine the chance to reinvest into our workforce.” – John James, CEO of Renaissance Global Logistics, Feb. 22, 2018

Land & Co. (Wyoming, Michigan) -- $1,000 bonuses for full-time employees; $500 bonuses for part-time employees; $250 bonuses for seasonal workers:

Land & Co., which operates 19 apartment communities in West Michigan, announced it will give its employees a special bonus of up to $1,000 in response the federal tax cut legislation signed recently by President Donald Trump.

"Land & Co. believes the Trump Tax Cut has generated a more optimistic vision for the future of business in West Michigan and the United States of America and wants their wonderful employees to be a part of and share in that vision," the company said in a statement attributed to its owners, Roger Lucas and Dan Hibma on Monday, Feb. 5.

Land & Co.'s 151 full-time employees will each get $1,000; its 17 part-time workers will get $500 and its nine seasonal workers will each get $250. – Feb. 5, 2018 Mlive.com article excerpt

U.S. Special Delivery (Iron Mountain, Michigan) – $1,000 bonuses:

With the recent tax reform, plenty of businesses got a big tax cut. That included Upper Peninsula–based U.S. Special Delivery, who got a little bit more spending money for the year, thanks to that tax cut.

“That was a major reason we were able to do this,” said U.S. Special Delivery President Terry Reed. “It provided the funds and the savings on taxes for us to be able to do something special, and we agreed it would be a great way to thank our employees for their dedication and hard work.” – Feb. 9, 2018 ABC News 10 article excerpt

Haworth Inc. (Holland, Michigan) – $1,000 bonuses for full-time employees, $500 bonuses for part-time employees; bonuses totaling $5 million:

Matt Haworth, chairman of the family-owned company, announced to staff on Wednesday, Jan. 24, that full time employees would receive one-time bonuses of $1,000, and part-timers would collect $500.

More than 4,500 employees who work for Haworth-branded companies around the globe will collect the rare bonus.

--

Matt Haworth says the company is able to make the $5 million investment because of several factors including strong 2017 revenues which will be announced next month and an improved business climate state and nationally. The latter he attributes to a rollback of regulations and taxes, which lower company's operational costs. – Jan. 25, 2018 Grand Rapid News article excerpts

SEMCO Energy Gas Co. (Port Huron, Michigan) - The utility is passing 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

Michigan Gas Utilities Corp. (Monroe, Michigan) – The utility is passing 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

Alpena Power Co. (Alpena, Michigan) – The utility is passing 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

Upper Michigan Energy Resources Corp. (UMERC) (Iron Mountain, Michigan) - The utility is passing 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).

---

"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

Fishbeck, Thompson, Carr & Huber engineering (Grand Rapids, Michigan) -- $1,500 to all 400 full-time and part time employees: 

A local architecture engineering firm has issued bonuses to all of its employees following tax reform.

Grand Rapids-based Fishbeck, Thompson, Carr & Huber, or FTCH, said yesterday it issued $1,500 bonuses to all 400 of its full- and part-time employees, effective Dec. 29.

Jim Susan, president of FTCH, said the company decided to give out the bonuses as a result of the firm's tax savings following passage of the federal tax bill on Dec. 22.

“We just decided it was a little windfall for the firm in general, and we decided we would share that with all our staff members,” he said. “Everyone got the same amount, regardless of position.

“It was in keeping with the spirit of the tax cut and trying to move a little more money back into the economy, so we decided for those few reasons we would do that.” – Jan. 16, 2018 Grand Rapids Business Journal article excerpt

Consumers Energy (Jackson, Michigan) --  The utility is passing along tax cut savings to customers:

Michigan officials approved refunds of $1,625,769,000 to Consumers Energy customers.

The Michigan Public Service Commission approved a refund of $1,174,181,000 for electricity customers and $451,588,000 for customers of Consumers Energy gas business.

The refunds are a result of the 2017 federal Tax Cuts and Jobs Act, which lowered corporate tax rates from 35 percent to 21 percent. -- Sept. 26, 2019 WLNS Article

DTE Energy (Detroit, Michigan) – The utility is passing along tax cut savings to customers:

DTE Energy issued the following statement regarding the impacts of H.R.1, the Tax and Jobs Act.

"The recent passage of the Federal Tax Cuts and Jobs Act will offer benefits to energy customers across the country -- including DTE's utility customers here in Michigan.

The reduction of the corporate tax rate will result in lower bills for DTE’s 2.2 million electric and 1.3 million gas customers.

In 2018, a savings of nearly $190 million will be passed along to customers. 

As this tax reduction works through the regulatory process, our average electric and gas customers will see a reduction in their rates of about 3 percent. The reduction in rates due to the tax law change will be a significant infusion into the Michigan economy as our customers will enjoy this benefit for years to come." – Jan. 23, 2018 DTE Energy press release

Lakestone Bank & Trust (Lapeer, Michigan) -- Pay raise for hourly employees of $1 per hour; $1,000 bonuses for salaried employees:

Lakestone Bank & Trust announced Friday that employees will benefit from the recently announced tax reform law.

Bruce J. Cady, chairman and CEO of Lakestone Bank & Trust said, “We are very appreciative of all Lakestone Bank & Trust employees and certainly what they have accomplished over the years, particularly the last year; and we want to commemorate the passing of this historic, economy-stimulating tax reform law. This is a once in a lifetime opportunity and we know we want to reinvest much of the savings back into our bank and the first place we are going to put it is into the hands of our employees. Employees are our most important asset.

All hourly employees received a $1 per hour raise and all salaried employees will receive a $1,000 bonus. The bank's board of directors overwhelmingly supported this action, resulting in a significant investment into the bank's employees. -- Jan. 28, 2018 The County Press article excerpt

Traverse City State Bank (Traverse City, Michigan):  $750 bonuses:

Sweeping federal legislation that provides lucrative tax cuts to businesses also is helping to fatten the wallets of Traverse City State Bank’s employees.

The bank announced in February that it was giving each of its 90 employees a one-time $750 bonus because of the federal tax overhaul that President Donald Trump signed in December and the bank’s strong performance last year.

“The tax reform has aided us in returning more funds to our staff in their paychecks and in turn, these bonuses will provide an additional boost to our local economy,” said bank CEO Connie Deneweth – March 2018, Traverse City Business News article excerpt

Waste Management Inc. (Multiple locations in Michigan) -- $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

Webco Industries Inc. (Grand Rapids, Michigan) – Up to $2,000 bonuses:

Webco Industries based in Sand Springs is the latest employer to give workers a bonus following the passage last year of the Trump Administration's tax plan.

Webco says each employee was given $1,000 if they've been there for a year or more. Employees who have been there for a significant amount of time, were given $2,000.

Webco says they had more than a million dollars total to distribute to their employees, many of whom are in Sand Springs.

"The tax cuts and jobs act reduced corp tax rates, so that produced a significant amount of savings this year for Webco as our corporate tax bill was reduced," said Mike Howard with Webco Industries.

These were one-time bonuses and impacted employees in Oklahoma, Pennsylvania, Texas, Illinois, and Michigan. -- March 7, 2018 News on 6 article excerpt

STERIS Corp. (Michigan location in Lake Orion- Steris IMS) -- $1,000 bonuses totaling $7 million for non-executive U.S. -based employees:

Like many companies, the recent tax reform in the U.S. will result in significant additional earnings for STERIS to strategically grow our business and return value to Customers, employees and shareholders. One of our first actions on that front will be a one-time special discretionary bonus of $1,000 to all U.S. employees other than senior executives. -- Feb. 7, 2018 STERIS press release excerpt

AT&T -- $1,000 bonuses to 6,199 Michigan 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

T.J. Maxx – 41 store locations in Michigan – Bonuses, increased 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

Fifth Third Bancorp  – 210 locations in Michigan; Nationally $1,000 bonuses for 13,500 employees and base wage raise increase to $15:

Newly passed tax legislation includes a reduction in corporate tax rates designed to spur economic growth. Carmichael said the tax cut allowed the Bank the opportunity to reevaluate its compensation structure and share some of those benefits with its talented and dedicated workforce.

Carmichael said the higher wage is an important step to help support individuals, their families and the communities in which we operate. Fifth Third has a history of investing in its 18,000 employees.

Once the legislation is signed into law, nearly 3,000 hourly employees will see their pay increase to $15 an hour. The one-time $1,000 bonus is expected to be distributed by the end of the year, assuming the president signs the bill before Christmas. Senior managers and executive leadership are excluded from this compensation.

“It is good for our communities, employees and Fifth Third Bank,” [President and CEO Greg] Carmichael said. – Dec. 20, 2017 Fifth Third press release

Best Buy -- 41 stores in Michigan -- $1,000 bonuses for full-time employees; $500 bonuses for part-time employees. Over 100,000 employees 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. — Feb. 2 2018, Minneapolis Star Tribune

Home Depot --70 locations in Michigan -- Bonuses for all hourly employees, up to $1,000.

Dollar Tree, Inc. (Multiple locations in Michigan) -- $100 million investment in pay increases, enhanced benefits including maternity leave for qualifying employees, and employee training. 

Lowe's -- 6,000+ employees at 47 stores and one distribution facility in Michigan. 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 (Twenty-two locations in Michigan) – Tax reform bonuses:

Ryder System is the latest company to give its employees a bonus as result of the new tax law.

The Miami-based fleet management company (NYSE: R) will give a one-time cash bonus to all non-incentive bonus-eligible employees of the company employed on Dec. 31, according to a Securities and Exchange Commission filing.

The bonuses, totaling about $23 million, stem from a huge tax benefit that Ryder will receive as a result of changes in the recently passed Tax Cuts and Jobs Act, which reduces federal corporate tax rates to 21 percent from 35 percent.

Ryder said it will get a one-time tax benefit of about $586 million, or $11.04 a share, for the quarter ended Dec. 31. It said the net benefit is due to the estimated impact of reduced future tax rates on the company’s deferred tax liabilities.

The Fortune 500 company had 34,500 employees at the end of 2016, and reported $1.8 billion in revenue and $11.3 billion in assets in its most recent quarter. -- Jan. 30, 2018 South Florida Business Journal article excerpt

CarMax (Kentwood, Michigan) – $250-$1,500 bonuses depending on length of service:

The nation’s largest retailer of used cars, announced plans to provide one-time bonuses to most hourly and commissioned full-time and part-time associates as a result of the recently passed Tax Cuts and Jobs Act of 2017. Bonus amounts will vary from $200 up to $1,500 based on length of service with the company. – Feb 23. 2018, EPR Retail News article excerpt

Walmart - Michigan employees at 119 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.

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

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

Taco John’s (Stevensville): 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 Taco John’s International, Inc. press release

Fiat Chrysler (Auburn Hills, Michigan) -- $2,000 bonuses for 60,000 employees; $1 billion investment in U.S. plant in Warren, Michigan; 2,500 new jobs

“It is only proper that our employees share in the savings generated by tax reform and that we openly acknowledge the resulting improvement in the U.S. business environment  by investing in our industrial footprint accordingly,” Chief Executive Officer Sergio Marchionne said in a statement. – Jan. 11, 2018 Bloomberg News article excerpt

Starbucks Coffee Company (Multiple locations in Michigan) – $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.

McDonald’s (600+ locations in Michigan) – 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

FedEx (Multiple locations in Michigan)– 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

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

Wells Fargo   15 locations in Michigan -- 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 Michigan examples, please email John Kartch at jkartch@atr.org

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

More from Americans for Tax Reform


Biden Cannot Be Trusted on Taxes -- His $400,000 Pledge is Bogus

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Posted by John Kartch on Tuesday, September 8th, 2020, 9:45 AM PERMALINK

Biden cannot be trusted on taxes

Joe Biden cannot be trusted when he says he won't raise taxes on Americans making less than $400,000 per year. In addition to the fact that he has endorsed many tax increases on middle class Americans during the past few months (re-imposition of the $695 - $2,085 individual mandate tax, repeal of the Tax Cuts and Jobs Act, a carbon tax, and raising the capital gains tax on "every single solitary person" so it is taxed at ordinary income tax rates) he also broke his tax pledge the last time around, betraying the American people.

As Vice President, Joe Biden broke his promise to the middle class that no one making less than $250,000 would see a single penny of their tax raised. Biden said his tax vow applied to "any tax."

Biden made the promise during a nationally televised Vice Presidential debate on Oct. 3, 2008 using firm language:

“No one making less than $250,000 under Barack Obama’s plan will see one single penny of their tax raised whether it’s their capital gains tax, their income tax, investment tax, any tax.” [Video]

Biden's running mate Barack Obama touted the pledge in speeches for months:

“I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.” [Transcript] [Video clip]

Once safely in office, Biden imposed tax increases on millions of middle class households.

White House spokesman Robert Gibbs was asked by reporters on Tax Day -- April 15, 2009 -- if the Obama-Biden pledge applied to Obamacare. Gibbs affirmed, saying: "The statement didn't come with caveats."

But Biden imposed tax increases on the middle class:

Individual Mandate Tax: Obamacare imposed a tax of $695 for an individual and $2,085 for a family of four for failing to buy “qualifying” health insurance as defined by Obama-Biden rules.

The tax hit low and middle-income families hard: Three-fourths of households stuck paying the tax made less than $50,000 per year, a blatant violation of Biden's pledge to the American people.

According to official IRS data for the 2017 tax year, 74% of households liable for the individual mandate tax had an adjusted gross income of less than $50,000.

In 2017, the individual mandate tax was paid by 4,606,271 households.

3,430,003 of these households had an adjusted gross income of less than $50,000.

Thanks to congressional Republicans and President Trump, this tax was zeroed out as part of the Tax Cuts and Jobs Act.

Biden is now pushing to reimpose the individual mandate tax. [Click here for video of Biden calling for re-imposition of individual mandate tax.]

Medicine Cabinet Tax: This Obama-Biden tax increase meant the 20 million Americans with a Health Savings Account and the 30 to 35 million Americans with a Flexible Spending Account were no longer able to purchase over-the-counter medicines using these pre-tax account funds. Examples include cold, cough, and flu medicine, menstrual cramp relief medication, allergy medicines, and dozens of other common medicine cabinet health items.

For years, this Obama-Biden tax made household medicine cabinet items more expensive. President Trump signed repeal of the Obamacare Medicine Cabinet Tax in March 2020.

Chronic Care Income Tax Hike: This Obama-Biden income tax increase directly targeted middle class Americans who faced high medical and dental expenses in a given year. The tax hit 10 million households per year.

Before Obamacare, Americans facing high medical expenses were allowed an income tax deduction to the extent that those expenses exceeded 7.5 percent of adjusted gross income (AGI). Obamacare imposed a threshold of 10 percent of AGI. Therefore, Biden not only made it more difficult to claim this deduction, he widened the net of taxable income.

Again, low and middle income households were hit hard by this Obama-Biden tax.

Thanks to President Trump and congressional Republicans, this tax hike was rolled back as part of the Tax Cuts and Jobs Act. But Biden has threatened many times to repeal the TCJA.

Flexible Spending Account Tax: Due to this Obama-Biden tax, the 35 million Americans who use a pre-tax Flexible Spending Account (FSA) at work to pay for their family’s basic medical needs face an Obama-Biden cap of $2,500.

Before Obamacare, the accounts were unlimited under federal law. But now, parents looking to save for medical costs or braces for the kids find themselves quickly hitting this new cap. This restricts options for low and middle income families.

This Obama-Biden tax also hits special needs families. Families with special needs children often use FSA dollars to pay for special needs tuition and educational materials, which can run thousands of dollars per year. The Obama-Biden $2,500 cap makes things more difficult for these families.

With his threatened repeal of the Tax Cuts and Jobs Act, Biden will raise taxes on all income levels. If Biden repeals the tax cuts, a median income family of four will face an annual $2,000 tax increase and a median income single parent with one child will face an annual $1,300 tax increase.

“Joe Biden lied to the American people when he said he would never raise any tax on any American earning less than $250,000. Whatever Biden says now, taxpayers know what to expect,” said Grover Norquist, president of Americans for Tax Reform.

Biden has also endorsed a carbon tax and a 40 percent capital gains tax on all Americans.

Biden even endorsed another middle class tax increase on every homeowner in Milwaukee.

Biden's record is clear: If he becomes President, your taxes are going up.

See Also:

Biden: "If you elect me, your taxes are going to be raised"

Video: Biden calls for repeal of Trump tax cuts

Biden Lied About His Tax Hikes on Small Business

 

 


JFK vs. Biden on Taxes

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Posted by John Kartch on Tuesday, September 1st, 2020, 3:20 PM PERMALINK

ATR today released a video showing the tax policy contrast of President John F. Kennedy and current Democrat nominee Joe Biden.

Quotations in the video are as follows:

JFK: "Such a bill will be presented to the congress for action next year. It will include an across the board, top to bottom cut in both corporate and personal income taxes."

Biden: "Guess what, if you elect me your taxes are going to be raised not cut."

JFK: "Corporate tax rates must also be cut to increase incentives and the availability of investment capital."

Biden: "I would raise the corporate tax." "Raise the corporate tax rate from 20 to 28 percent."

JFK: "For all these reasons, next year's tax bill should reduce personal as well as corporate income taxes. For those in the lower brackets who are certain to spend their additional take-home pay, and for those in the middle and upper brackets, who can thereby be encouraged to undertake additional efforts and enabled to invest more capital."

Biden: "I'm going to double the capital gains rate to 40 percent." "So every single solitary person, their capital gains are going to be treated like real income and they are gonna pay 40% on their capital gains tax."

JFK: "To achieve these greater gains, one step above all is essential. The enactment this year of a substantial reduction and revision in federal income taxes."

Biden: "Guess what? First thing I'm gonna do is repeal that Trump tax cut. Oh not a joke."

For details on JFK's tax-cutting policies, see the book JFK, Conservative authored by Ira Stoll.

Also note the 2012 Wall Street Journal op-ed written by Amity Shlaes, excerpted below:

Heller's successful plan to combat the recession of the early 1960s was the Kennedy-Johnson tax cuts, which pushed the unemployment rate below 5% and the growth rate above 5% from 2%. Crucially, the administration's marketing pitch didn't talk about "fairness" but about competition. In the 1963 State of the Union Address, for example, Kennedy spoke about obstacles that "undercut our efforts to compete with other nations." He called "one step, above all, essential" to solve the problem: "the enactment this year of a substantial reduction and revision in federal income taxes."

Heller and Kennedy recognized that taxation (not only growth) is all about competition. Cities compete with cities, counties with counties, states with states, and nations with nations. These natural experiments run in real time.

Click below to watch the video:

Photo Credit: The White House


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