Thanks to tax reform, Bank of America gives $1,000 bonuses to 145,000 U.S. employees

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Posted by ATR on Saturday, December 23rd, 2017, 12:00 AM PERMALINK

Due to the recently enacted Tax Cuts and Jobs Act 145,000 U.S. employees of Bank of America will receive special $1,000 bonuses.

As reported by CNBC, quoting an internal Bank of America memo from CEO Brian Moynihan:

“Beginning in 2018, we will see benefits from the tax reform, too, in the form of lower corporate tax rates.

In the spirit of shared success, we intend to pass some of those benefits along immediately. U.S. employees making up to $150,000 per year in total compensation – about 145,000 teammates – will receive a one-time bonus of $1,000 by year-end.” – CEO Brian Moynihan

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