by Glen Shapiro, Tax-News.com, New York
11 January 2018
Walmart, the US retail giant, has become the latest company to announce perks for its employees as a result of the passage of the US tax reform bill.
Walmart announced January 11 that it would increase its starting wage rate to USD11, expand maternity and parental leave benefits, and generally provide a one-time cash bonus of up to USD1,000.
The company said: “We are early in the stages of assessing the opportunities tax reform creates for us to invest in our customers and associates and to further strengthen our business, all of which should benefit our shareholders. […] Tax reform gives us the opportunity to be more competitive globally and to accelerate plans for the US.”
Americans for Tax Reform is maintaining a list of companies and their commitments to employees as a result of the US tax reform package on its website, announcing January 11, 2018, that more then a million US workers stand to benefit so far.
“Just ten days into 2018 the Tax Cuts and Jobs Act has changed the nation for the better,” ATR President Grover Norquist said. “American companies are raising wages, paying bonuses, expanding operations and increasing 401(k) contributions.”
Noting the expanding list, John Thune (R-SD), a member of the tax-writing Senate Finance Committee, said: “Two weeks ago, President Trump signed our historic tax reform bill into law, and middle-income Americans are already seeing the benefits. Companies across America are announcing they will raise wages, increase charitable donations, and give out bonuses to many of their hardworking employees – citing the tax reform legislation as the key factor in those decisions. As it stands today, at least one million Americans will receive special bonuses due to the passage of comprehensive tax reform. This is good news for many workers who have struggled to make ends meet in a weak economy. Americans now have a tax code that will foster the economic growth necessary to put more money in their pockets.”