Growing Number Of Georgia Businesses, Workers Benefiting From Tax Cuts
Georgia employees seeing bonuses, pay raises, other benefits thanks to tax code changes backed by Isakson, Perdue
ATLANTA, GA – U.S. Senators Johnny Isakson (R-GA) and David Perdue (R-GA) today highlighted a growing number of Georgia businesses and workers who are seeing a positive impact from the historic tax cuts signed into law only seven weeks ago. More than 3 million Americans have already received bonuses, wage hikes or 401(k) match increases, including Georgia employees at the businesses below (listed alphabetically):
Aflac (Columbus, GA) – Increased 401(k) match from 50 percent to 100 percent on the first 4 percent of compensation plus one-time $500 contribution to every employee’s 401(k); $250 million increase in overall U.S. investment. Read more here.
“We are pleased that these tax reforms provide Aflac with an opportunity to increase our investments in initiatives that reflect our company values; providing for our employees in the long and short term, ensuring future growth for our company and giving back to the community.” –Dan Amos, Aflac Chairman and CEO
AR-15 Gun Owners of America (Warner Robins, GA) – Bonuses and increased salaries for all employees. Read more here.
AT&T Southeast/BellSouth Telecommunications (Atlanta, GA) – Announced it would give more than 200,000 employees a special bonus of $1,000 and invest an additional $1 billion in the U.S. Read more here.
Carl Black Automotive Group (Kennesaw, GA) – Bonuses to more than 500 employees. Read more here.
Expanded Technologies, Inc. (Marietta, GA) – Minimum bonuses of $500 for each employee and additional cash depending on length of service. Read more here.
“As a result of the Tax Cut and Job Act recently enacted by the Trump Administration, we are pleased to announce that ETI will give each of its 77 employees a bonus of $500 cash along with an additional sum for each year of service.” –Jean-Luc Liverato, Expanded Technologies, Inc.
Home Depot (Atlanta, GA) – Bonuses of up to $1,000 for every hourly employee. Read more here.
“We are pleased to be able to provide this additional reward to our associates for continuing to deliver outstanding customer service. This incremental investment in our associates was made possible by the new tax reform bill.” –Craig Menear, Home Depot Chairman, CEO and President
Lockheed Martin Corp. (Marietta, GA) – Plans to contribute $5 billion in cash toward its pensions and increase its commitment to initiatives such as employee training, charitable contributions for education in science and math, and the Lockheed Martin Ventures fund by $200 million. Read more here.
Mincey Marble (Gainesville, GA) – Bonuses of up to $1,000 based on length of service. Read more here.
“As the owner of a family business, I want to share how tax reform is benefitting Americans at every level. Companies big and small are passing along tax savings to the workers who help build our economy. I hope that the bonuses Mincey Marble is providing encourage other businesses in our great state to pay it forward, because the Tax Cuts and Jobs Act is the kind of meaningful change that can help transform communities by bringing relief to American workers and families.” –Donna Mincey, Mincey Marble President and CEO
Shred-X (Griffin, GA) – Plans to use the additional savings from tax reform to purchase a new truck and hire a new employee at their company of ten people. Read more here.
“This is just one practical example of how tax reform is helping us here on Main Street.” –Cade Joiner, Shred-X owner
Starbucks Coffee Company (Augusta, GA) – Reaffirmed its commitment to add an additional 500 manufacturing jobs at its Augusta, Georgia, soluble coffee plant, where a $120 million expansion is planned for 2019; also announced new raises and benefits totaling $250 million and 8,500 new jobs nationwide. Read more here.
SunTrust Banks, Inc. (Atlanta, GA) – Base wage increases to $15 per hour; $50 million in additional community grants; merit pay raise; additional 401(k) contributions; etc. Read more here.
“The anticipated benefits from tax reform allow us to build upon our purpose of Lighting the Way to Financial Well-Being in a sustainable way by implementing actions that will have a multi-year impact for many of the constituents that count on us. We believe tax reform will improve the competitiveness of American business and promote economic growth, and this gives us confidence to invest more in our company, our teammates and the communities we serve.” –Bill Rogers, SunTrust Chairman and CEO
Synovus Financial Corporation (Columbus, GA) – $1,000 bonuses to all non-executive employees. Read more here.
Total System Services (Columbus, GA) – $1,000 bonuses for 11,500 employees. Read more here.
“A spokesperson for the Columbus, Ga.-based credit card processor best known as TSYS told Atlanta Business Chronicle that it made an internal announcement Tuesday that team members would receive a ‘special one-time cash bonus of $1,000’ as ‘a result of the company’s continued success and the recently passed U.S. tax reform legislation.’”
UPS (Atlanta, GA) – $12 billion in investments to expand the company’s Smart Logistics Network and increase employee pensions. Read more here.
“We applaud President Trump and Congress for their bold action to improve the U.S. economy. Our investments will create new jobs, secure existing jobs and expand opportunities for our people. We are committed to remaining a preferred employer by continuing to provide industry-leading compensation and excellent career opportunities.” –David Abney, UPS Chairman and Chief Executive Officer.
Yancey Bros. (Austell, GA) – $500 bonuses for 1,200 employees. Read more here.
Senator David Perdue Comments On Budget Committee Approval Of Tax Plan
WASHINGTON, D.C. – U.S. Senator David Perdue (R-GA), a member of the Senate Budget Committee, released the following statement after the U.S. Senate moved one step closer to fixing our tax code this year:
“Changing our tax code for the first time in more than 30 years will increase wages for American workers and make us more competitive with the rest of the world. These tax changes will also increase GDP growth, which is necessary to solve our current debt crisis. If the Senate does not act, the federal government is on track to add $11 trillion to the debt over the next 10 years. Approval from the Budget Committee today was one of the final steps needed to get this across the finish line. It is now critical for Republicans and Democrats to put aside any self-interests and operate with a sense of urgency to get these tax changes done now.”
Senator David Perdue: This Is About Tax Relief For The American Worker
“A family of four, making the median income of $71,000 a year, is going to get a 60% tax cut with this plan”
WASHINGTON, D.C. – U.S. Senators David Perdue (R-GA), Thom Tillis (R-NC), Dean Heller (R-NV) and grassroots leaders held an event today to highlight the positive impact changing the tax code will have on American families, businesses, and the economy.
Relief For Working Americans: “On the individual side, there’s been a lot of talk that the rich are getting all the benefits. This couldn’t be further from the truth. A family of four, making the median income of $71,000 a year, is going to get a 60% tax cut with this plan. A single parent with one child, making $41,000 a year, is going to get a 75% tax cut.”
Solving The Debt Crisis: “Long-term we have to solve this debt crisis. Cutting taxes and changing the tax code will not solve the debt crisis, but the debt crisis will not be solved unless and until we fix our archaic tax policy.”
Getting A Deal Done: “I’m one of those business guys who needed that certainty to make capital investment decisions over a longer period of time. I would prefer not to have a trigger, but this is about getting a deal done and getting a tax package for the American people, which they expect. I come from a world where you really don’t ever get 100% of what you want. I don’t want to see this bill destroyed because of pursuit for perfection. We’ve seen that before in Washington.”
Fact vs. Fiction: Senator Perdue Lays Out The Facts About Tax On Fox News
WASHINGTON, D.C. – U.S. Senator David Perdue (R-GA) spoke with Shannon Bream on Fox News @ Night to clear up the misinformation about the U.S. Senate’s plan to fix the tax code, help middle-class families, and make America more competitive again.
Fiction: The GOP tax plan will add $1 trillion to the national debt.
Fact: “I am more optimistic that this plan is going to ignite our economy. President Trump said job one was getting our economy going again. We pulled back on regulations, unleashed our energy potential, and now we have an historic opportunity to change the tax code and make American companies and workers competitive again with the rest of the world.”
Fiction: This tax plan is only going to help the wealthy and hurt lower and middle-income Americans.
Fact: “Real Americans are going to benefit from this. A family of four, making the median income of $73,000 a year, will have their taxes cut almost 60%. A single mom with one child, making $41,000 a year, which is the median income for a single worker, will get a 75% tax cut. More importantly, between 3-6 million people are estimated to have their taxes go to zero. The greatest beneficiary of this plan is the person who will get a job because the economy is going to be ignited.”
Fiction: There has been no transparency to this process. The entire process was hidden from the American people and pushed through at the last minute.
Fact: “Over the last few years, there have been over 70 open hearings in the Senate about changing the tax code. This has been a fully transparent process. I hear the rhetoric from the other side. This is all coming from the side who a few years ago had then-Speaker Pelosi say ‘you’ve got to pass the bill to see what’s in it.’ This has been an open process the entire time. This is regular order. It went through committee, where we had amendments offered. We’ll have amendments added to it tonight. All of this has been done in the light of day.”
Fiction: The tax plan will generate very little economic growth.
Fact: “President Trump has really pushed us to make sure this plan will make American businesses grow. I believe we have accomplished that. Today, we have the highest corporate tax rate in the world, and the corporate tax rate is a huge penalty on the American worker. I know because I’ve lived in Asia and worked all over the world. We are now going to become more competitive with the rest of the world.”