Tax Reform Benefiting Employees Across America
‘Just this week, Metlife announced a major new investment in its 50,000-plus employees. The company is raising its minimum wage, enhancing benefits, boosting retirement contributions, and creating a skills development fund. In short, Metlife is betting big on U.S. workers. And so are the more than three hundred other companies that have already announced major investments in their employees and facilities. Right here in America. Right here, thanks to historic tax reform.’
WASHINGTON, D.C. – U.S. Senate Majority Leader Mitch McConnell (R-KY) delivered the following remarks today on the Senate floor regarding the benefits Americans across the country continue to see from tax reform:
“For eight years under President Obama, our economy didn’t perform as well as it should have. Americans’ wages and salaries hardly grew. Many job creators sat on the sidelines, wary of new tax increases or heavy-handed regulations. Washington had its foot on the brake. But last year, all that changed.
“President Trump and this Republican Congress set out to make life easier for workers and job creators. We cut regulations and passed tax reform to give middle-class families immediate relief and set the stage for more hiring and more wage growth in the years ahead.
“I recently heard from a small family-owned inland river shipyard in Ashland, Kentucky. They build and repair commercial barges. Here's what their president wrote: ‘Thanks to the tax change and optimism of our customers, we are at long last able to replace equipment which has been used way past [its] life expectancy and possibly add two more production workers.’ Last week, a Louisville employer dropped by to tell me how he’s using his tax reform savings: Thousand-dollar bonuses for more than one hundred Kentucky employees.
“Small companies and big businesses alike are thrilled they finally have a twenty-first-century tax code. It makes them more competitive with overseas rivals and frees up more money to invest right here at home. And middle-class workers are reaping the rewards. Major national companies like Pfizer and the Home Depot, which together employ more than half a million Americans, have announced hundreds of millions of dollars in employee bonuses, thanks to tax reform.
“Just this week, Metlife announced a major new investment in its 50,000-plus employees. The company is raising its minimum wage, enhancing benefits, boosting retirement contributions, and creating a skills development fund. In short, Metlife is betting big on U.S. workers. And so are the more than three hundred other companies that have already announced major investments in their employees and facilities. Right here in America. Right here, thanks to historic tax reform.”
Related Issues: Tax Reform, Taxes, Middle Class, Economy
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